Duracap Asphalt Paving Co. purchased I-40 Motocross in December.
Duracap is planning to build an asphalt plant at the location where the racetrack operated on Buttermilk Road.
“That’s been through the planning commission,” Roane County Executive Ron Woody said.
The Roane County Planning Commission approved the company’s site plan for the asphalt plant in January.
Duracap is at 2535 Asbury Road, Knoxville.
A phone message left with the company on Friday wasn’t returned.