NATIONAL HARBOR, Md. (7News) — Sphere Entertainment Co., in collaboration with the State of Maryland, Prince George's County, and Peterson Companies, has announced plans to develop a new Sphere venue at National Harbor, marking the second U.S. location for the innovative entertainment concept.

This project, which will be the first to utilize a smaller-scale design model, is set to become a landmark in Maryland, promising significant economic, cultural, and community benefits, according to a Sunday night news release from Governor Wes Moore.

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In that release, James L. Dolan, Executive Chairman and CEO of Sphere Entertainment, emphasized the company's vision of creating a global network of Spheres. "Sphere is a new experiential medium," Dolan said, highlighting the commitment of local leaders to elevate immersive experiences in the area.

Gov. Moore expressed enthusiasm for the project, noting its potential as one of the largest economic development initiatives in Prince George's County history. "This will be one of the largest economic development projects in Prince George’s County history – proving once again our state is the best place in the country to bring dreams to life," Moore said.

Prince George's County Executive Aisha N. Braveboy celebrated the announcement as a "world-class win" for the county, reflecting strong partnerships and the ability to attract major projects.

"As only the second Sphere venue in the United States, this project demonstrates the future of economic development in Prince George’s County, how we compete, how we win, and how we attract other world-class destinations that will become flagship projects for our County, our State, and the entire region. I love winning for Prince George’s County," Braveboy said.

Watch Aisha Braveboy talk about the benefits of the sphere below:

Jon Peterson, CEO of Peterson Companies, highlighted the project's role in reinforcing National Harbor as a premier destination. "This innovative project will further reinforce National Harbor as the national capital region’s premier destination for conventions, entertainment, retail and dining, and hospitality," Peterson said.

The development will be supported by approximately $200 million in state, local, and private incentives. It is expected to create about 2,500 jobs during construction and 4,750 jobs once operational, with an anticipated economic impact exceeding $1 billion annually.

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National Harbor, located just 15 minutes from Washington, D.C., is a top entertainment and tourism destination, attracting over 15 million visitors annually. The new Sphere venue, with a capacity of 6,000 seats, will feature cutting-edge technologies, including a 16K x 16K interior display, Sphere Immersive Sound, and haptic seating.

The project is contingent upon the negotiation and execution of definitive agreements and the receipt of necessary governmental incentives and approvals, the release stated.