The UAW and Chrysler Group LLC reached a tentative four-year agreement this morning that will create more than 2,000 new jobs and invest $4.5 billion to retool and upgrade plants to produce new and upgraded vehicles.

The agreement with Chrysler follows recent settlements with Ford and General Motors. UAW President Bob King says:

This tentative agreement, coupled with the new agreements at General Motors and Ford, brings more than 20,000 new jobs to communities across America. Together with the jobs created in suppliers and other businesses supported by auto manufacturing, a total of 180,000 jobs will be added to the country’s battered economy. Through collective bargaining and working together with the domestic automakers, we have shown that cooperation and collective bargaining work.

UAW Vice President General Holiefield, who directs the union’s Chrysler Department, says the agreement “is the latest in a remarkable turnaround for Chrysler.”

The company declared bankruptcy just a few years ago and with great sacrifice by UAW Chrysler workers and with federal loans and support from the Obama administration, Chrysler has paid back the loans in full. Today, thanks to the dedication of its UAW workers, Chrysler is showing strong sales and adding new cars to its line-up, additional shifts at plants, and creating new jobs.

UAW members at GM ratified the contract by a 2-to-1 margin last month and voting at Ford will be complete next week. Voting at Chrysler will begin soon. Details of the tentative agreement will be posted at www.uaw.org.