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Chrysler to announce plans for Fenton plants

By Bill Raack, KWMU

St. Louis – Chrysler is expected to announce a billion-dollar investment in its two automotive plants in St. Louis County.

The state of Missouri, St. Louis County and the city of Fenton have been working for months to come up with an incentives package aimed at convincing Daimler-Chrysler to keep the plants open.

The automaker had indicated that they were at risk of closing. State department of economic development spokesman Paul Sloca says tax breaks have become a necessary negotiating tool for governments to use.

"You look at the competition out there," Sloca said. "It's not only from obviously from other states but from other countries as well and when you're in a global economy, any advantage you can have and anything you can offer over anywhere else is obviously a benefit."

Details of the incentives package will be released Monday. About 5,500 people work at the two plants, building minivans and pickup trucks.