New Orleans was established by French colonists as a trading post on the Mississippi River. Hurricane Katrina caused over $1 billion in damages but $14 billion was allocated for rebuilding infrastructure. The city fits the Hoyt urban model, with the CBD centered around the Superdome, factories and industry surrounding the CBD, and zones of low, middle, and high residential classes radiating out. New Orleans' primary economic sector is mineral production, petroleum, and natural gas reserves.