Focusing Resources, Economic Investment, and Guidance to Help Transportation Act of 2010

Focusing Resources, Economic Investment, and Guidance to Help Transportation Act of 2010 - Declares U.S. policy with respect to freight transportation.

Establishes within the Office of the Secretary of Transportation (DOT) an Office of Freight Planning and Development.

Directs the Secretary to develop a long-term National Freight Freight Transportation Strategic Plan to guide planning and investments in the national transportation system to move freight.

Directs the Secretary to: (1) develop new or improve existing tools to support an outcome-oriented, performance-based approach to evaluate proposed freight-related and other transportation projects; (2) facilitate the collection of transportation-related data to support a broad range of evaluation methods and techniques to assist in making transportation investment decisions; and (3) consider improvements to the Commodity Flow Survey that reduce identified freight data gaps and deficiencies and help evaluate forecasts of transportation demand.

Directs the Secretary to: (1) establish a competitive grant program for capital investment projects that improve the efficiency of the national transportation system to move freight; and (2) give priority to projects with the highest system performance improvement relative to their benefit-cost analysis.

Limits the federal share of project net capital costs at 80%.

Requires a grant recipient to submit to the Secretary: (1) a project management plan and an annual financial plan for a project with a total cost of $500 million or more; and (2) an annual financial plan for a project with a total cost of $100 million or more.

Repeals specified prohibitions against the transfer of amounts from the Highway Trust Fund to the Port Infrastructure Development Fund.