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Stadium developers report near‑30% participation by diverse and small local firms, diversity-only goal not fully met
Summary
Developers and construction advisers reported that about $30 million of an $86 million stadium budget went to minority-, women- and small-business contractors (roughly 29% overall). The diversity-only participation rate reached about 14.7% against a 17.5% goal in the development agreement.
Officials involved in the new Smokies Stadium told the task force the project achieved substantial participation by diverse and small businesses during construction but did not fully meet the 17.5% diversity-business target set in the development agreement. Doug Kirchhofer, who represents Boyd Sports/Knoxville Smokies, and Edward Henley, founding principal of Fieldwood Development (contracted to lead DBE/outreach efforts), described a multi-year outreach and workforce-development program tied to stadium construction and operation. Henley said the development agreement set an ambitious 17.5%…
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