RISE Immediate Opportunity Grants

The Revitalize Iowa's Sound Economy Program, commonly referred to as the RISE program, is administered by the Iowa Department of Transportation as a state-level economic development initiative designed to support infrastructure improvements that directly stimulate economic growth. The program focuses specifically on transportation-related projects, particularly the construction, reconstruction, and enhancement of roads and streets that facilitate business expansion and job creation. By targeting public roadway systems, including primary and secondary roads and city streets open to public use, the program aims to strengthen Iowa’s economic base by improving access to industrial and commercial developments. The core objective of the RISE program is to invest in value-adding economic activities that introduce new revenue streams into the state economy. These activities typically include industrial, manufacturing, warehousing, distribution, and certain professional office developments. The program explicitly deprioritizes or excludes projects centered on residential, retail, or purely local service-oriented developments, as these are not considered to generate substantial new economic inflows. Instead, the program emphasizes projects that demonstrate measurable economic impact through job creation or retention and long-term business growth. Funding under the Immediate Opportunity category is intended for projects that require rapid financial commitment to influence business location or expansion decisions. Eligible applicants include city and county governments within Iowa, which may apply for funding to support roadway improvements associated with qualifying economic development projects. The funding structure allows for grants, loans, or a combination of both, with awards covering up to 80 percent of eligible roadway project costs. Additionally, funding may be allocated at a rate of up to 14,000 dollars per job created or retained, reinforcing the program’s emphasis on employment outcomes. Applicants must demonstrate that the proposed project is tied to an immediate, nonspeculative opportunity for permanent job creation or retention. A key requirement is that at least 20 percent of the project funding must come from non-RISE sources, which may include local funds, federal aid, or other financial contributions. Applicants are also required to show that all necessary non-transportation elements—such as zoning, utilities, workforce training, and permitting—are in place or will be secured to ensure project success. This comprehensive approach ensures that roadway investments are aligned with viable and fully supported development initiatives. The application process requires submission of a detailed and complete application form along with extensive supporting documentation. Required materials include a formal resolution from the local government, narratives describing the economic development and transportation justification, cost estimates, project maps, development schedules, and documentation of financial commitments. Applications must be accurate, complete, and typewritten, as incomplete submissions will not be considered. Once submitted, applications that meet threshold criteria are reviewed and presented to the Iowa Transportation Commission for funding consideration. Applications for Immediate Opportunity funding are accepted on a rolling basis, meaning there is no fixed deadline. This allows applicants to respond quickly to time-sensitive development opportunities. Approved projects are subject to monitoring and evaluation by the Iowa Department of Transportation to ensure compliance with program requirements and to assess overall effectiveness. The program may also reclassify applications that do not meet immediate opportunity criteria for consideration under other RISE categories, such as Local Development projects. Overall, the RISE program represents a strategic investment tool that leverages transportation infrastructure to drive economic development in Iowa. By aligning roadway improvements with high-impact business activities and requiring strong local participation and planning, the program ensures that public funds are used to generate sustainable economic benefits across the state.

Demonstrate a clear and immediate connection between roadway improvements and job creation or retention and ensure all non roadway project elements such as zoning utilities and financing are secured prior to application submission