Caterpillar To Relocate Headquarters From Illinois To Texas

By The Center Square Staff:

Caterpillar, one of Illinois' top employers, is moving its corporate headquarters from the Chicago suburbs to Irving, Texas, the company announced Tuesday.

The industrial equipment maker is the second major employer to announce a move from Illinois after Boeing said last month it was relocating its headquarters from Chicago to Arlington, Virginia.

"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," Caterpillar CEO Jim Umpleby said in a statement.

Caterpillar has been based in Deerfield, Illinois, since 2017, when it moved from Peoria. Now, it's heading to Texas, which has attracted a number major business moves over the past several years, particularly from California.

Illinois and California are considered high-tax states with challenging regulatory environments for businesses. Texas has no income tax.

The move will impact about 230 jobs and begin later this year, Caterpillar said.

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