Caterpillar is slated to move its world headquarters from the Chicago area to Irving, Texas, which in the Dallas area, later this year. The heavy equipment company — whose yellow machines are distinguished by a large “CAT” logo — is making the move to attract new talents and improve global access.
“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,” said Jim Umpleby, Caterpillar Chairman and CEO.
To date, Caterpillar Inc. is a world leading manufacturer of construction and mining equipment, off-highway engines, gas turbines, and diesel-electric locomotives. The company is part of the Dow Jones Industrial Average.
Caterpillar originally planned on building their global facility in Peoria, Illinois. However, in 2017, the global manufacturer established their world headquarters in Deerfield, near Chicago. Despite strong Illinois roots, Caterpillar has had a presence in Texas since the 1960s.
“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,” said spokeswoman Kate Kenny.
The company will move all of its Illinois construction equipment and products to the new headquarters in Irving. Currently, Caterpillar has about 120 employees working out of the Irving office, and many of the over 230 employees in Illinois will look at relocating and joining them in Irving.
Texas’ governor, Gregg Abbott, tweeted, “Today, Texas widened its lead as the #1 state in America for Fortune 500 company headquarters. We are proud that Caterpillar now calls Texas home. We are a perfect fit for this international brand.”
Meanwhile, Illinois Gov. JB Pritzker said, “It’s disappointing to see Caterpillar move their 240 headquarters employees out of Deerfield over the next several years when so many companies are coming in.
For over 100 years, Caterpillar has been working toward sustainable manufacturing. The company employs 107,700 people globally and has over $51 billion in sales and revenue.
