Caterpillar is moving its global headquarters to Chicago, Illinois, in a bid to ease access to international partners and operations. The relocation will see approximately 300 employees being based in the Chicago area, including a number of the company’s senior executives.
Caterpillar CEO Jim Umpleby said, “Our board of directors has been discussing the benefits of a more accessible, strategic location for some time. Since 2012, about two-thirds of Caterpillar’s sales and revenues have come from outside the USA. Locating our headquarters closer to a global transportation hub, such as Chicago, means we can meet with our global customers, dealers and employees more easily and frequently.”
Peoria, Illinois, where Caterpillar was first established will continue to house the largest concentration of the company’s employees anywhere in the world, but previously announced headquarters scheduled to be built in the region will now not happen.
The firm has previously contributed over US$60m in support of various community-based projects in Peoria and has confirmed it will continue its philanthropic work in the area.
“We value our deep roots in Central Illinois, and Peoria will continue to be our hometown. The vast majority of our people will remain in this important region where we have many essential facilities and functions,” added Umpleby.
February 3, 2017