PORTLAND — The 2nd Annual Stars and Stripes Spectacular will take place on the Eastern Promenade on Independence Day.

The largest Independence Day celebration in Maine will feature the Portland Symphony Orchestra and a fireworks display, the July 4th Portland Foundation announced. Last year’s inaugural event drew an estimated 60,000 spectators, with tens of thousands more viewing the fireworks from the shores of nearby towns and aboard boats on Casco Bay.

The concert is scheduled to begin at approximately 7:40 p.m. Admission is free.

The foundation is a nonprofit organization created to privately fund the celebration. The foundation got its start after four businessmen got together to rescue the fireworks display, which was being cut from the city’s budget.

The foundation’s fundraising efforts this year will include making a limited number of reserved spots available in front of the stage. Tables for 10 will be available for $1,000 and individual seats will be $100. Reserved seating may be purchased by calling Jana Spaulding at 233-4339.

The foundation was created by Jon Jennings president and general manager of the Maine Red Claws NBA Development League basketball team; Jack Quirk, owner of Quirk Chevrolet; Michael Dubyak,  chairman and chief executive officer of Wright Express, and Richard Connor, chief executive officer of MaineToday Media, whose publications include The Portland Press Herald.

“When the Maine Red Claws, The Portland Press Herald, Quirk Chevrolet, and Wright Express came together to create the July 4th Portland Foundation and the Stars and Stripes Spectacular, it was with the hope that it will be an annual tradition for Maine families,” Connor said in a statement. “The 2010 event was spectacular, and we look forward to working with the city of Portland to continue to make this a destination event for many years to come.”

For more information, go to www.july4thportland.org.