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Chrysler Investing More Than $600M in Illinois Belvidere Assembly Plant

10/28/2010
Automaker Chrysler will invest more than $600 million in its Illinois Belvidere Assembly Plant to prepare for production of future vehicles. The state will provide a $62.1 million business investment package that will save 1,950 jobs. An expansion of the state's EDGE tax credit benefiting the auto industry was a top reason Chrysler decided to remain in Illinois.

Chrysler will build a 638,000-square-foot body shop and install new machinery, tooling, and material handling equipment. Facility advancements will allow Chrysler to produce its next generation of vehicles. It currently manufactures to Dodge Caliber, Jeep Compass, and Jeep Patriot at the facility. The company expects to complete the project next year.

Chrysler's site is located in an Enterprise Zone, which will also afford the company benefits. The new EDGE tax credits allow auto companies to retain employee income tax withholdings and reinvest those funds into job-creating projects.

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