Mayor Richard M. Daley announced today that he and Governor George Ryan have agreed on a plan to expand and improve O'Hare Airport. The plan includes all the O'Hare improvements the Mayor proposed when he announced his plan June 29.

"I believe this is one of the most significant agreements ever reached between a Chicago mayor and an Illinois governor," Daley said at a news conference. "Our plan will ensure the region's economic viability and transportation leadership for generations to come.

"Air travelers from around the nation and around the world will get to their destinations faster and more efficiently because of the agreement we have arrived at today.

"It will maintain O'Hare as the economic engine of our region's economy by creating an estimated 195,000 jobs – in addition to the 500,000 jobs currently supported by the region's airport system."

He said the agreement "will relieve the delays and congestion at O'Hare – both in the air and on the ground -- in a way that maintains safety and increases efficiency. It will improve air travel by helping more flights arrive on time. It addresses quality of life issues for those who live in the areas adjacent to it -- both in the city and our suburbs.

"It protects local taxpayers, because the costs will be paid by the airlines, through passenger facility charges, and through the airport improvement fund, none of which obligate local taxpayers.

Under the agreement:

• O'Hare will add one new runway. The seven existing runways will be reconfigured to include a southern runway.
• An entrance will be built on the western side of O'Hare.
• An additional $450 million will be invested in soundproofing homes and schools near O'Hare.
• The Mayor and Governor will seek federal funds for construction of a new airport in Peotone.
• Meigs Field will remain open until January 1, 2026, but could be closed any time after January 1, 2006, if allowed under state law.
• As long as Meigs remains open, its operating expenses will be financed by O'Hare's two major airlines.

Daley said U.S. Senator Dick Durbin has agreed to try to find a vehicle bill so the agreement can be approved by Congress and signed into law by President Bush.

The Mayor thanked Ryan, as well as Durbin, House Speaker Dennis Hastert, Congressmen Bill Lipinski and the members of Chicago's business community who worked on the issue.

"We agree that an efficient, high-capacity airport system is absolutely vital to the continued economic vitality not just of Chicago but of the suburbs and the entire state of Illinois," Daley said. "Unless we make these investments, the problems of delays and congestion will undermine the ability of O'Hare Airport to compete both nationally and around the world."