Full Breakdown
Prince George’s County Approves $215 Million Bond Package for Sphere Entertainment Venue at National Harbor
By Drooid · · How we work
In this breakdown
01
County Council Approves Financing Package
The Prince George’s County Council voted unanimously (8-0) to authorize up to $215 million in special-obligation bonds to fund a proposed 6,000-seat entertainment arena operated by Sphere Entertainment Co. The agreement also requires the county to construct a $40 million parking garage and to provide $130 million in bond financing that Sphere will repay through future tax revenues. Maryland contributed over $13 million toward the project.
02
Economic Rationale and Project Details
County officials present the venue as a catalyst for a stronger commercial tax base after the Washington Commanders’ planned relocation and the closure of the Six Flags amusement park in Largo. Executive Aisha Braveboy estimates the development will generate $63 million annually in property, sales, and amusement taxes and project a total economic impact of $1.3 billion for the county and $1.5 billion for the state. The overall cost of the Sphere complex is cited at $1.4 billion, with an anticipated opening for shows in early 2030.
03
Official Statements from County Leadership
In a post-vote news conference, Executive Braveboy emphasized that the project moves the county onto a “global stage” and signals to investors that Prince George’s is ready for “world-class investment and high-quality development.” She highlighted the shift from reliance on residential property taxes to a “strong commercial tax base” as essential for long-term fiscal health. Council Chair Krystal Oriadha joined the briefing, noting the anticipated job creation and local business opportunities tied to the venue.
04
Verbatim Quotes
- “Today, Prince George’s County enters the global stage and redefines itself as a destination for investment, entertainment, technology and innovation,” — Aisha Braveboy, county executive
- “The decision to go after Sphere — to work to bring it to Prince George’s County — will more than triple in tax revenue what we are losing with the Commanders leaving in a few years and the closure of Six Flags,” — Aisha Braveboy, county executive
- “I absolutely worked with the council to ensure that they understood how important it was that we send a message to our business community and to our residents that we understand the importance of improving our commercial tax base and creating an environment where … good investment is welcomed, so that we can have a higher quality of development here in the county,” — Aisha Braveboy, county executive
- “Far too long, we have focused our attention on our residential tax base, which has put a burden on our property owners, and the only way to begin to move away from that is to have a strong commercial tax base,” — Aisha Braveboy, county executive
05
Future Steps and Timeline
The county will soon schedule a groundbreaking ceremony for the $1.4 billion complex. A labor-peace agreement, approved earlier in the month, permits union organization of workers once the venue opens but does not extend protections to construction crews. A community-benefits fund has also been established as part of the financing package.