Ford to Invest $400M in Chicago Factories in Deal with UAW

Ford has announced plans to invest more than $400 million in its Chicago-area factories in a deal with the United Auto Workers (UAW), bringing a possible end to the ongoing strike. The investment, part of a tentative contract between the car maker and workers, will primarily focus on the Torrence Avenue factory, where the company produces Explorer SUVs.

An additional $30 million will be allocated to the stamping plant in Chicago Heights, which supplies the Torrence Avenue assembly line, reported Crain’s. The proposed contract also includes substantial raises for workers, with potential increases of over 30 percent over a four-and-a-half-year period when factoring in the cost-of-living provision.

The agreement also includes lump-sum payments to compensate workers at the Torrence Avenue plant for the wages lost during the recent strike. The contract will be voted on by UAW members in the coming weeks.