Ford Motor Company is going to invest about $1.1 billion in its two Chicago-area factories if a tentative contract is approved by the United Auto Workers rank-and-file members. Ford pledges to invest about $900 million in the Assembly Plant on the South Side and about $200 million in the Stamping Plant in south suburban Ford Heights, according to reports by Crain’s Chicago Business and Bloomberg.
The UAW outlined some of the pledged investments in contract highlights being distributed to union members. The proposed Ford contract approved by local union leaders on Monday a is the richest of the Detroit Three, with a promise of $10,250 in bonuses for most workers this year alone. The four-year deal covers 53,000 workers at 22 U.S. plants.
Ford’s agreement also promises $9 billion in U.S. plant investments over four years, more than the $8.3 billion promised at GM and the $5.3 billion promised by Fiat Chrysler. Ford says it will create or retain 8,500 jobs at its U.S. plants over four years.
