The AFL-CIO Building Investment Trust (BIT) and the AFL-CIO Investment Trust Corporation (ITC) recently hosted a worker appreciation luncheon at the Wolf Point South: Salesforce Tower project.
The Oct. 13 event featured AFL-CIO Secretary-Treasurer Fred Redmond and Chicago labor leaders recognizing the many contributions of Chicago’s building trades to the changing downtown skyline, CISCO (Construction Industry Service Corporation) reported in its newsletter.
The Chicago River structure, adjacent to Merchandise Mart, is the final of the three-phase Wolf Point development.
The event honored the more than 225 union tradespeople currently on-site, building one of the largest construction projects in Illinois.
“I want every worker to have the same chance as my family, the chance to join a union, to work on projects like Wolf Point, and to succeed in achieving the dignity and respect all working people deserve. I want every worker to feel the power of the labor movement as a change agent for prosperity,” AFL-CIO secretary-treasurer Fred Redmond told the gathering.
The BIT is the equity investor for all three phases of the development, investing union pension capital to generate more than $1.5 billion in total development in downtown Chicago.
“The BIT’s comprehensive labor policies will generate over 6 million hours of work for union constructions trades on the site,” CISCO reported. “In Chicago, over $3.9 billion in total economic benefit has been created through construction investments made by the BIT.”
“The impact of BIT’s investments begins with you, the hard-working men and women of the building trades. However, please know that your hard work today will pay dividends to workers and our great city for years to come. The labor movement should be proud of this impact in our backyard,” said Illinois AFL-CIO president Tim Drea.