Gov. Wes Moore said Wednesday that the mini Sphere planned for National Harbor will be “transformational” for Maryland’s economy.

A new Ernst & Young report, which officials and a representative from the firm presented Wednesday, predicts that operations and tourism from the Sphere will generate $1.5 billion annually for the state economy.

The latest annual economic benefit projection is larger than the $1 billion figure that Moore and other officials shared shortly after Sphere announced its plans to expand.

But economists say economic impact estimates are often inflated.

Nicholas Irwin, an economist and professor at the University of Nevada, Las Vegas, said the economic projection seems “quite high for a project that is so small in scale.

“That’s the same kind of numbers people would argue for a new stadium,” he said.

A scaled-down version of the 18,000-capacity Vegas Sphere, National Harbor’s will seat 6,000 for concerts and shows.

Sphere Entertainment Co., the company behind the original Las Vegas immersive venue — the world’s largest spherical structure — announced the Maryland project in January and said during an earnings call last week that it could open before 2030.

Caroline Sallee, a managing director at Ernst & Young, said of the Sphere should draw more than 2 million visitors a year to Prince George’s County.

Construction, which does not have a start date yet, would bring an estimated $1.6 billion for Prince George’s County and create 3,350 construction-related jobs, she said.

Once the Sphere opens, increased tourism will create more than 7,000 local jobs, Sallee and Moore predicted.

The Sphere will receive public funds to defray its anticipated $1 billion cost.

Prince George’s County officials approved $170 million for the project, mostly in the form of county bonds that will be repaid with future property tax revenue from the project.

The state has committed $13.5 million, according to a Moore spokesperson. And Peterson Cos., which owns National Harbor, has offered to contribute $15 million through a discounted ground lease.

On the call, Prince George’s County Executive Aisha Braveboy said changes to the county’s permitting processes helped Maryland beat out Virginia for the project. But she said she is not “relying on any one economic development project” to boost the county’s economy.

Jack Hogan contributed to this story.