Phoenix will consider whether it makes financial sense to welcome another major sporting event.

On Wednesday, the City Council approved funding a feasibility study to potentially host a Formula E race. Similar to Formula One, Formula E is a single-seater motorsport, but Formula E cars are all electric.

“In the only other American city to host this race, the event sold out very quickly and attracted over 20,000 attendees,” said Vice Mayor Yassamin Ansari

Portland is the only U.S. location to host an all-electric race this season joining Rome, Monaco, Mexico City and others.

Phoenix’s feasibility study will analyze street infrastructure, along with costs and benefits. 

“This contract specifically is to help attract the Formula E race to Phoenix and bring even more excitement for vehicle electrification and provide yet another sporting event that will undoubtedly boost our economy,” Ansari said.

The study is part of a $295,000 contract with Visit Phoenix that will include tours for developers and national site selectors during next year’s NCAAA Men’s Final Four and the WNBA All-Star Game. The city pays for similar tours when the Super Bowl is here as a way to woo corporate decision makers in hopes of attracting businesses and creating jobs. 

According to a City Council report from the Community and Economic Development Department (CEDD), “Investing in critical economic development efforts such as marketing and media consulting services allows Phoenix to remain competitive to host future major events, keeps the City on a global stage, and furthers CEDD’s focus to attract businesses and create quality job opportunities for Phoenix residents.”