$25 million awarded for Cedar Rapids intermodal transportation facility
The U.S. Department of Transportation has awarded more than $25 million to build a full service intermodal facility in Cedar Rapids. Gov. Terry Branstad and Lt. Gov. Kim Reynolds announced the award Thursday.
The federal funding will come from the Fostering Advancements in Shipping and Transportation for the Long-term Achievement of National Efficiencies (FASTLANE) grant program. The grant will partially cover the $46.5 million cost of the project. Private partners, led by Alliant Energy Transportation, will provide nearly $21 million for the project.
The intermodal transportation facility will help move freight between different modes of transportation. Officials said it will provide Iowa and surrounding states access to a high capacity facility to move goods from truck to rail and vice versa.
The Iowa Department of Transportation said the facility would be built south of US 30 and west of Edgewood Road SW.
Project partners will have to negotiate a grant agreement with the USDOT. Officials expect construction on the facility will begin by next spring.