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Burk-Kleinpeter, Inc. was hired by the the New Orleans Business & Industrial District (NOBID) to perform a feasibility analysis and design a Master Plan for an Automotive Technology Center and Speedway in New Orleans East. NOBID commissioned the study to evaluate the potential for the automobile manufacturing, testing, and racing industry to provide a platform for economic development in the New Orleans area. The study evaluated the market potential for a modern speedway in the New Orleans area, ascertained whether there were suitable sites in New Orleans East to accommodate the facility, investigated the financial feasibility of the proposed facility, identified possible funding sources for operation of the facility, and determined the economic benefits of such an undertaking. BKI identified and selected a site with several advantages, such as stable sand foundation and readily available fill material on-site, and provided opinions as to probable costs and the public infrastructure necessary to support the facility. Constructions cost was estimated to be $55 million. |
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