Immediate Opportunity Fund
Immediate Opportunity Fund supports Oregon city- and county-sponsored road improvements that help businesses create or retain jobs, prepare industrial sites for development, and revitalize business centers.
Funder: Oregon Department of Transportation
Due Dates: Rolling (requests)
Funding Amounts: $5 million per biennium; up to $1 million (Type A) or $500,000 (Type B)
Summary: Supports Oregon roadway improvements that respond to economic development opportunities, create or retain jobs, prepare industrial sites, or revitalize business centers.
Key Information: IOF may be used only after other financial support sources have been exhausted.
Description
The Oregon Department of Transportation’s Immediate Opportunity Fund (IOF) supports roadway improvements that help Oregon respond quickly to economic development opportunities. It can address transportation problems affecting a business’s decision to locate, relocate, expand, or remain in the state, with an emphasis on creating or retaining primary jobs in industries important to Oregon’s economy.
The fund also supports roads that prepare certified or regionally significant industrial sites and areas for development, or help revitalize business and industrial centers. Improvements must serve general transportation needs while advancing economic development. IOF is discretionary funding, not a replacement for other sources of support.
