Chrysler Announces Billion Dollar Investment in Missouri

Chrysler has announced it will make a $1 billion investment in Missouri. Negotiations have been underway for the past few months between Chrysler and officials from the state, St. Louis County and city of Fenton. A Chrysler official had told Fenton city officials that the two factories in that town could be in danger of closing if incentives weren’t offered to keep them there. The Fenton Board of Aldermen has agreed to a 70% tax abatement on new equipment and machinery, which should save the company $46 million dollars over the next 15 years. The state has kicked in $32 million in bonds, to help pay for equipment and job training. The St. Louis South Chrysler Plant builds the Chrysler Town&Country, Dodge Caravan and Grand Caravan mini-vans and employs 3,200 workers. The St. Louis North Plant builds Dodge Ram Pickups and employs 2,300 workers.