Revitalize Iowa’s Sound Economy Program – Local Development supports local economic development but does not require an immediate commitment of funds (e.g., industrial parks, tourist attractions).
Donor Name: Iowa Department of Transportation
State: Iowa
County: All Counties
Type of Grant: Grant
Deadline: 02/01/2023
Details:
The purpose of the RISE program is to promote economic development in Iowa through the establishment, construction, and improvement of roads and streets. The RISE program is targeted toward value-adding activities that feed new dollars into the economy and provide maximum economic impact to the state. The RISE program encourages economic diversification, new business opportunities, small business development, exporting, import substitution, and tourism in Iowa. The program is funded annually with dedicated state motor fuel and special fuel tax revenues as set out in Iowa Code 312.2 and 315.
Purpose
- To assist in providing improved access to developable land targeted for RISE eligible activities or to assist significant tourism resources.
- The development should have appropriate zoning and platting in place prior to application submittal. Iowa DOT district staff will need to be consulted if the proposed roadway and/or development connects to or impacts state right of way.
- A transportation impact study or letter may be required prior to seeking approval of the application by the Iowa Transportation Commission.
Local Development
Support local economic development but do not require an immediate commitment of funds (e.g., industrial parks, tourist attractions), or do not meet the Immediate Opportunity criteria.
Projects are evaluated using the following five factors.
- Development potential
- Economic impact
- Local commitment and initiative
- Transportation need
- Area economic need
Local match is normally 50 percent.
Eligibility Criteria
All counties and incorporated cities in Iowa are eligible to apply for and receive funds under the RISE program. Private firms, developers, or other agencies may not apply directly for funds, but are encouraged to work with county or city governments in seeking funding for projects
For more information, visit IADT.
