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Tag: Ernst & Young

  • How much money and jobs would a Sphere at National Harbor generate? New figures are out – WTOP News

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    There are new estimates of how much a planned Sphere entertainment venue in Prince George’s County, Maryland, would benefit the D.C. region.

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    How are DC-area locals reacting to National Harbor Sphere news?

    There are new estimates of how much a planned Sphere entertainment venue in Prince George’s County, Maryland, would benefit the D.C. region.

    The project, announced last month, would bring a smaller version of the Las Vegas Sphere to National Harbor.

    Results of a comprehensive study conducted by Ernst & Young released Wednesday found the project would have an economic impact of $1.3 billion a year.

    It also determined the project would create about 3,350 jobs during the construction phase, and about 7,100 jobs once it opens. The permanent jobs would be at the venue itself and at businesses in the nearby area.

    Those are increases from earlier estimates of $1 billion a year in economic impact, 2,500 construction jobs and 4,750 permanent jobs.

    The study also estimated that more than 2 million people a year would attend events at the Sphere at National Harbor.

    “We continue to see just how transformational this is going to be, not just for Prince George’s County and not just for the state of Maryland, but truthfully for the entire region,” Maryland Gov. Wes Moore said Wednesday.

    It was initially announced that the project would involve about $200 million in incentives from the county and state, and that amount has not changed, Prince George’s County Executive Aisha Braveboy said Wednesday.

    Braveboy said tax revenues alone from the new project would more than triple what the county has been getting from the Six Flags amusement park in Bowie that closed late last year, and Northwest Stadium in Landover where the Washington Commanders play. The Commanders expect to start playing in a new stadium in D.C. in 2030.

    “I feel really good about getting this project up, hopefully before the Commanders leave. That would be our goal,” Braveboy said.

    Prince George’s County is not Las Vegas, she said, but it is “the destination of the East Coast.”

    She added that the project will solidify her county as the area’s “entertainment (and) tech capital.”

    “We already have quantum computing. We have a thriving aerospace and cybersecurity industry here … and now, we’ll be the center for entertainment tech in the region,” Braveboy said.

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    Michelle Basch

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  • Long Island Association adds seven new board members | Long Island Business News

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    THE BLUEPRINT:

    • LIA elects seven new board members from major Long Island institutions.

    • New members represent , research, defense and accounting.

    • Leaders elected to help bolster economic growth and competitiveness.

    • LIA says new voices will support innovation and small-business success.

    The recently elected seven new members to its . The new board members serve in higher education, accounting services, scientific research and defense manufacturing, bringing expertise in their fields.

    These members, all from organizations that were already represented on the board, were elected to support the LIA’s mission to advance regional economic and business development.

    “We are excited to welcome these accomplished and knowledgeable leaders to the LIA Board of Directors,” Lawrence Waldman, chairman of the LIA, said in a news release about the board members.

    “Their leadership and industry expertise will bring fresh perspectives and help guide our mission to strengthen Long Island’s competitiveness and economic resilience,” he added.

    The board members include Dr. Jerry Balentine, president of New York Institute of Technology, with a campus in Old Westbury; Damon Brady, product line director of , with locations in Greenlawn; Andrea Goldsmith, president of ; John Hill, interim director of ; Craig Savell, managing principal of the New York metro region of , which includes offices in Uniondale and Melville; Christopher Storm, interim president of president of , whose main campus is in Garden City; and Jerry Ward, office managing partner of , with a location in Jericho.

    The LIA’s Board of Directors comprises “a cross-section of our region’s leading industries and institutions, and these new voices will contribute to the LIA’s efforts to ensure a thriving economy,” Matt Cohen, president and chief executive of the LIA, said in the news release.

    “The work of the new board members at their respective companies and organizations is critical to both the growth of our innovation economy and success of small businesses, and we look forward to having their input as we advocate for a prosperous Long Island,” he said.


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    Adina Genn

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  • Elon Musk’s xAI Faces High Exec Turnover as CFO and Key Leaders Step Down

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    Elon Musk’s A.I. firm is best known for its Grok chatbot. Photo by Jared Siskin/Patrick McMullan via Getty Images

    Mike Liberatore, chief financial officer of Elon Musk’s xAI, has left the company after just three months, the Wall Street Journal first reported. His exit adds to a wave of high-profile turnover at the startup. Launched by Musk in 2023, xAI is best known for its Grok chatbot. The company’s technology has quickly caught up to competitors, but Grok has also made headlines for controversial outputs and now for a string of executive departures.

    Liberatore joined xAI in April after eight years at Airbnb, where he was vice president of finance and corporate development. He also previously worked at PayPal and eBay. At xAI, he was reportedly involved in fundraising and oversaw data center expansion efforts in Memphis, Tenn. Liberatore left in July, according to the Journal.

    Around the same time, Raghu Rao, xAI’s former commercial lead, also departed. Rao had joined in April following roles at Zoom, Ernst & Young and Deloitte.

    Another loss came this summer when Robert Keele, a member of xAI’s legal team, stepped away from his role as general counsel. “Working with Elon on this tech, at this time, was the adventure of a lifetime,” Keele wrote in an Aug. 5 X post. He said he was leaving to spend more time with his family. His farewell included a Grok-generated video of a man in a suit shoveling coal, which Keele said was the chatbot’s response to the prompt: “What’s it like to lead legal at xAI?”

    Musk built xAI in just a few years with a founding team largely drawn from OpenAI and Google. Of the dozen co-founders, at least three have since left. Kyle Kosic is now at OpenAI, while Christian Szegedy became chief scientist at Morph Labs. Both departed last year.

    The most recent co-founder to exit was Igor Babushkin, who led engineering teams at the firm before leaving in August to launch his own venture capital firm focused on A.I. startups and agentic systems. “We wouldn’t be here without you,” said Musk in an Aug. 13 post responding to Babushkin’s announcement.

    Not every departure has been as cordial. Last month, xAI filed a lawsuit against Xuechen Li, a former member of xAI’s technical team, accusing him of stealing trade secrets to take to a new role at OpenAI. Li, who joined xAI in February 2024 and helped develop Grok, allegedly uploaded confidential data before accepting an offer from OpenAI in August. On Sept. 3, xAI won a court order temporarily blocking Li from starting the new job.

    Elon Musk’s xAI Faces High Exec Turnover as CFO and Key Leaders Step Down

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    Alexandra Tremayne-Pengelly

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