Chicago-based Industrial Giant Caterpillar Construction will be moving its headquarters from Illinois to Irving, Texas according to a US News article from June 14 which reports,
Construction equipment manufacturer Caterpillar said Tuesday it is packing up its headquarters from its longtime home state of Illinois and moving to Texas.
“Caterpillar Inc. said that it’s transferring its global base to the Dallas suburb of Irving, from Deerfield, outside Chicago.
The company had been based in Peoria, Illinois, for over 90 years before announcing a move to Deerfield in 2017. At the time, it touted Deerfield as meeting its goal of being more accessible to its global customers, dealers and employees.
“We believe it’s in the best strategic interest of the company to make this move,” CEO Jim Umpleby said.”
With Caterpillar’s move to Irving comes the excitement and preparation not just for Irving officials but the entire state of Texas according to a Dallas Morning News article from June 14. They say,
“Beth Bowman, president and CEO of Irving-Las Colinas Chamber of Commerce and Irving Economic Development Partnership, said companies choose Irving and D-FW overall because of their business-friendly environment, favorable tax structure and the people.
“Our focus is to make sure Caterpillar, their entire team within their global headquarters, know that they are coming into a community that wants them and we look forward to integrating them,” Bowman said.
Gov. Greg Abbott said the company’s relocation is a “testament to the boundless opportunity Texas has to offer.” He noted that the move means Texas will be home to 54 Fortune 500 companies.
“Businesses of all sizes and people from all backgrounds can grow and succeed in the Lone Star State because we champion a world-class economic environment fueled by the lowest business operating costs in the nation, a reasonable regulatory environment and a lower cost of living coupled with an exceptional quality of life,” Abbott said in a statement.”
Just like a number of companies moving to Texas, Caterpillar did not ask for any incentives for their relocation. Notably, Caterpillar had already set up an office branch in Irving way back in 1960’s.
