At a press conference this morning, both the Chicago Federation of Labor and the United Food and Commerical Workers union announced that they have accepted a Walmart proposal to pay employees an $8.75-an-hour starting wage at a new store on Chicago's far South Side (with an additional $.40 to $.60 per hour bonus after one year on the job). In turn, the retailer apparently agreed to a $20 million "community investment," much of which will go towards job training in the Pullman neighborhood where the new Walmart development will be located. Walmart also agreed to only hire union workers to build the Pullman store, as well as any new locations in 20 counties across Northeastern Illinois.

A vote on the proposed development is expected in the city's Zoning Committee today but is not yet confirmed.

UPDATE (12:15 p.m.): WGN is reporting that the Zoning Committee has passed the ordinance greenlighting the Pullman development.  It will face a full vote at the next City Council meeting.