(CBS) — The city of Chicago has reached a deal with the Federal Aviation Administration and United and American Airlines on a $1.3 billion infrastructure plan for O’Hare Airport that includes a building a sixth runway.

According to the city, the new runway is scheduled to be commissioned in 2020 and be 11,245-foot-long, 200-foot-wide, making it the second largest runway at O’Hare.

In addition to the new runway, the infrastructure plan includes a centralized de-icing facility, a new crossfield taxiway system to connect the north and south airfields as well as relocating fuel supply lines and airline support facilities.

“This historic agreement enhances O’Hare’s role as the economic engine of Chicago and the region,” said Mayor Rahm Emanuel in a statement. The capital plan will improve the passenger experience at O’Hare, while creating thousands of good-paying jobs for Chicagoans.

The city says the agreement will create more than 5,000 jobs in construction and professional service jobs. Sound insulation work for eligible homes and schools will be completed before the new runway opens, the city said.