In 1997, The U.S. Army Corps of Engineers published the results of its economic evaluation of a proposed lock to replace the existing lock in the Industrial Canal (also called the Inner Harbor Navigation Canal). It concluded that a new shallow draft barge lock yielded the highest national economic benefits, but recommended a more expensive larger lock to accommodate deep draft traffic be built instead. This recommendation was based on the willingness of the local sponsor (the Port of New Orleans) to finance the incremental costs of building the larger structure.

Since then, there have been numerous developments that were not foreseen by the Corps in its 1997 report.

Failure to Hold Water: Economics of the New Lock Project for the Industrial Canal, New Orleans (full report pdf)