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This study proposes a mixed integer dynamic capacitated intermodal facility location model that incorporates downside risk to determine a system level strategic intermodal facility investment plan in a region under uncertainty in freight commodity flow. Downside risk, which is associated here with the failure to achieve a desired target revenue for an intermodal facility (port or terminal), is incorporated in the model to capture the impact of the risk associated with the uncertainty in the commodity flow. The allowed system level downside risk is a parameter determined by the decision-maker, and a low value for it implies a lesser tolerance of risk. The downside risk analysis entails identifying the set of intermodal facility investment plans that represents tradeoffs between two objectives: expected system costs minimization and risk reduction associated with uncertainty in commodity flows. A scenario-based solution …