After seven months of prep work, officials of MGM Resorts International gathered with local and state dignitaries in Maryland to officially break ground for the MGM National Harbor resort on the Potomac.
The $1.2 billion resort, on schedule to open in the second half of 2016, is expected to be one of the most profitable casino resorts in the world, thanks to its prime location in the Baltimore/Washington corridor, directly across the river from Washington, D.C. and the state of Virginia, which has no casinos.
“MGM National Harbor is a shining example of where we’re headed in our state with respect to economic development,” said Maryland Governor Larry Hogan, who called the resort “one of the most important economic development projects in Maryland history.”
“Having grown up in this county, I know the positive effect this project is already having on the livelihoods of so many hard-working Marylanders,” Hogan said. “The impact MGM National Harbor will have on our state and workforce will be tremendous, and not only for the 1,000 skilled construction workers we are celebrating today, but for the thousands of jobs that will be created once this magnificent building opens its doors next year.”
Hogan was joined by MGM Resorts Chairman Jim Murren, Prince George’s County Executive Rushern Baker and MGM National Harbor President Lorenzo Chreighton in turning the ceremonial first shovel of dirt. Baker joked that he plans to put up a billboard facing neighboring Virginia that says, “Come, spend your money.”
The casino project has already created around 1,000 construction jobs, and is expected to create twice that number before the project is complete. The casino will employ 3,600 with a projected payroll of $1609 million per year, with a stated goal to fill at least half of its jobs with residents of Prince George’s County.
Murren used the occasion to respond to recent complaints that MGM was not meeting goals to use local and minority contractors in the project. “Back in 2012, I personally made many promises to this county and to the state of Maryland—that I would build locally, I would hire locally, I would hire minority businesses—and that is exactly what I intend to do,” Murren said.
MGM says it has partnered with more than 60 minority-owned businesses, at least 40 of which have been certified by the county. In addition, $18 million to $20 million has been paid to minority enterprises, the company said.
The property will feature waterfront restaurants, retail outlets, a carousel, a Ferris wheel and a residential component, all with a view of the Potomac just south of Washington.
