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Rahm Emanuel Announces $200 Million O'Hare Cargo Center, Thousands Of Jobs

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In this photo taken Oct. 5, 2010, an United Ailines jet taxis past the control tower at O'Hare International Airport in Chicago. On Monday, March 14, 2011, officials with the U.S. Department of Transportation say there's a partial agreement in a long-running dispute between the city of Chicago and both United and American airlines over funding of O'Hare expansion. (AP Photo/M. Spencer Green) | AP

CHICAGO -- The city of Chicago has reached an agreement to begin construction of a $200 million cargo center at O'Hare International Airport.

Mayor Rahm Emanuel says the project will create 1,200 construction jobs and another 1,200 permanent jobs at the completed cargo center. The mayor told a news conference Monday that the project will provide $600 million in economic benefits.

The project will be funded by a $130 million investment by developer Aeroterm LLC and more than $62 million of airport funds.

The cargo center will be built on approximately 65 acres of undeveloped property that was purchased in the 1990s.

Emanuel says the cargo center will ensure Chicago remains a leading gateway for imports from China.CLARIFICATION: This story's headline originally read that the mayor announced the center will bring 11,000 jobs to Chicago. This figure includes the jobs the mayor's office said will come as a result of "regional jobs related to this development" beyond the 2,400 construction and permanent jobs.

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