Tasracing CEO Paul Eriksson announced on Wednesday that due to a highly sensitive natural environment discovered at that site during the assessment process, work would cease.

"The latest report, undertaken by ECOTas as part of the ongoing Development Application process, found the area in question was a 'high priority for conservation management' under both state and federal conservation acts," Mr Eriksson said.

He said an endangered black gum forest, which could provide habitat for swift parrots, was found on the site as was the endemic burrowing crayfish.

Wynyard-based greyhound trainer Ben Englund said the development was "a disaster".

"We were initially told there was going to be a four-month overlap from the old site to the new site," he said.

"We are now back to square one basically. It's a disaster.

The final races were run at the Devonport showgrounds in March.

Mr Englund said the issue was they now had nowhere to train young dogs to race, as sites elsewhere in the state were dedicated racing venues.

Harness trainer Steve Davis said they had the same issue.

"The majority of trainers won't be able to travel their horses to Carrick for fast work so ultimately they will leave the industry," he said.

"With no track, no young people will enter the industry and those that are in it now will leave."

On Wednesday Mr Eriksson said work had begun to find a new suitable site, and on Thursday a spokesperson confirmed a number of locations within 20 minutes of Devonport were being considered.

Mr Eriksson and Tasracing chief operating officer Andrew Jenkins will address stakeholders at a meeting at the Spreyton racecourse at 4pm Friday.