Caterpillar, the world’s leading manufacturer of construction and mining equipment, is moving its global headquarters from Deerfield, Illinois to Irving, Texas.
“We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world,” Chairman and CEO Jim Umpleby said in an official release.
Spokesperson Kate Kenny told the Chicago Tribune that around 230 employees in the Deerfield main office will relocate to Irving. The move will not impact other Chicago area locations, including offices and manufacturing plants. With over 17,000 employees, Illinois is home to the largest concentration of Caterpillar employees in the world. Most of them are located near Peoria. Caterpillar moved its global headquarters from Peoria to Deerfield in 2017.
“We believe being in the Dallas Fort-Worth market will give us the ability to attract new talent and provide additional career opportunities for our current employees to aid in retention,” Kenny told Bloomberg and The Dallas Morning News. “The Irving location provides global access to our employees, customers and dealers with close proximity to two major airports.”
According to The Wall Street Journal (via WFAA’s Jason Whitely), Caterpillar did not get any tax incentives for its Texas relocation.
“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,” Beth Bowman, president and CEO of Irving-Las Colinas Chamber of Commerce and Irving Economic Development Partnership, told The Dallas Morning News.
The company that became Caterpillar has called Illinois home since 1910. As Bloomberg points out, it is the latest business to move its headquarters to Texas, following in the footsteps of Tesla and Oracle, among others.