Caterpillar Moving Global Headquarters to Chicago Area

Caterpillar Inc. introduced Tuesday it’s shifting its international headquarters to the Chicago space.

The corporate beforehand deliberate to construct a brand new headquarters complicated in downtown Peoria, however these plans have since been canceled.

“Caterpillar’s Board of Administrators has been discussing the advantages of a extra accessible, strategic location for a while,” stated Caterpillar CEO Jim Umpleby within the announcement. “Since 2012, about two-thirds of Caterpillar’s gross sales and revenues have come from outdoors the USA. Finding our headquarters nearer to a worldwide transportation hub, reminiscent of Chicago, means we will meet with our international clients, sellers and staff extra simply and often.”

A restricted group of senior executives and help features will lead the transfer to the brand new leased workplace area starting in 2017, the corporate stated.

“We worth our deep roots in Central Illinois, and Peoria will proceed to be our hometown. The overwhelming majority of our individuals will stay on this essential area the place we now have many important amenities and features,” Umpleby stated. “The brand new location can also be a chance so as to add to our gifted workforce whereas enhancing the productiveness of our senior leaders.”

The present headquarters constructing in Peoria will nonetheless proceed for use for Caterpillar workplaces, the corporate stated.

“If Caterpillar succeeds globally, we win in Central Illinois. I’m disenchanted we will’t maintain each job right here, but when shifting a few of its group close to Chicago helps Caterpillar thrive, it is going to profit Peoria, our county and the encompassing communities,” stated Peoria County Board Chairman Andrew Rand.

Caterpillar expects about 300 staff in complete to be based mostly there, together with some positions relocated from the Peoria space, as soon as the brand new workplace area is absolutely operational.

Revealed quarter-hour in the past

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