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Sherwood to Receive $3M in Federal Funds for Ice Age Drive Construction to Support New Corporate Park Development
Sherwood, Oregon - The City of Sherwood announces that $3 million in federal funding has been designated toward the improvement of a major new public roadway in the Tonquin Employment Area of Sherwood as part of the FY23 Federal Budget. These funds will go toward construction of Ice Age Drive, a key roadway that will enable access to several industrial parks currently under construction in the city.
“The City of Sherwood is extremely pleased to receive this funding toward the improvement of Ice Age Drive in the Tonquin Employment Area which will have a very significant impact on the industrial parks currently under construction in this area of Sherwood. Economic Development is one of the highest priorities of the Sherwood City Council as we work to grow new jobs and a stronger, more diversified tax base in Sherwood. Many thanks to Senator Jeff Merkley, Senator Ron Wyden, and Congresswoman Suzanne Bonamici for their active support of this project. Economic growth in Sherwood is intended to complement and align with our amazing family-oriented small town community and create more opportunities for people to live and work in Sherwood,” said Sherwood Mayor Tim Rosener.
Ice Age Drive is a planned approximately one-mile east/west industrial collector road between SW Oregon Street and SW 124th Avenue in Sherwood which will help ease traffic flow on SW Tualatin-Sherwood Road, improve access to I-5, and make it easier for additional tech and advanced manufacturing companies to locate in Sherwood’s Tonquin Employment Area. The Tonquin Employment Area has long been planned for the development of new corporate and commerce center developments and was approved by Sherwood voters in 2012 for annexation into the City as a key industrial employment area. The City is already hard at work with our many public sector and private sector partners to bring about this much-needed improvement. The financing will be utilized immediately to support the construction of Ice Age Drive. Design, engineering, and environmental reviews are currently underway for the new road, meaning that thanks to federal funding, construction can commence without delay once the review process is complete.
The Sherwood City Council is focused on attracting a wide range of companies in such fields as semiconductors, advanced technology manufacturing, aerospace/defense, life sciences, software, R&D, sports tech/outdoor gear, and other growing fields. Recently, Sherwood has worked with our partners to attract such key tech/advanced manufacturing companies as Lam Research, NSI Manufacturing, and DWFritz Automation to the Tonquin Employment Area. The construction of Ice Age Drive will help Sherwood to continue to grow its economic base. Improving Ice Age Drive is a key factor in ensuring that the Tonquin Employment Area is an attractive option for incoming businesses in the targeted manufacturing and tech industries, consequently facilitating job growth and fulfilling the city and region’s future economic prosperity. By the time it has been fully developed, the Tonquin Employment Area is expected to create 3,520 new jobs and generate over $200 million in private investment producing over 2 million square feet of building area.
About Sherwood, Oregon
Sherwood is a fast-growing prosperous suburban community located in the Greater Portland “Silicon Forest”. With its location in the dynamic and growing Southwest Portland/I-5 Employment Corridor, Sherwood has proven to be an ideal location for the growth of semiconductors and other advanced manufacturing/technology companies. Sherwood and the metro area are particularly attractive as a key market for top talent. While Sherwood is proud of its small town environment, it is an integral part of the Greater Portland metropolitan region and the Sherwood Labor Shed has a population of 2.4 million within a 60 minute radius. Sherwood is well recognized for its excellent schools and for its proximity to numerous colleges and universities. Sherwood always ranks as one of the safest cities in Oregon and offers a pro-business environment. With its proximity to Portland International Airport and I-5, Sherwood offers excellent access to the San Francisco Bay Area and Seattle - in the most affordable major metro area on the West Coast. In addition to the Tonquin Employment Area, Sherwood is undertaking the planning for the development of a 250-acre Sherwood West Technology Park/Innovation Center. Sherwood is located in the Oregon Wine Country and offers an active Pacific Northwest outdoor lifestyle – with easy access to the nearby Cascade Mountains/Mount Hood and the Oregon Coast.
