Caterpillar Inc. to move global HQ to Chicago

Presented by
  • Earthmovers & Exacavators

Chicago skyline Caterpillar Inc. will move its headquarters to Chicago from its traditional home in Peoria, Illinois. Chicago skyline

Caterpillar Inc. has announced it will establish its new global headquarters in Chicago after being based in the rural city of Peoria, Illinois for over 90 years.


Buy now
Compare new


The move will initially affect a ‘limited group of senior executives and support functions’, but will eventually be expanded to around 300 employees.

Caterpillar says the move reflects the company’s position as a global business and that moving to a major city will allow it reach more customers easily.

"Caterpillar’s board of directors has been discussing the benefits of a more accessible, strategic location for some time," Caterpillar CEO Jim Umpleby says.

"Since 2012, about two-thirds of Caterpillar’s sales and revenues have come from outside the United States. 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."

In announcing the move, Caterpillar reaffirmed the ongoing importance of the Peoria and central Illinois region.

"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.

The company says the relocation plans mean the previously announced Peoria headquarters complex will not be built, and the current headquarters building will be used for Caterpillar offices.

Caterpillar has a long connection with Peoria and has contributed more than US$60 million to thousands of families, organisations and programs across central Illinois. Cat says it will continue its philanthropic support of the region.

Representatives from the Peoria community say that although the move is disappointing, the continued success of Caterpillar Inc. is vital to central Illinois.

"If Caterpillar succeeds globally, we win in Central Illinois," Peoria County board chairman Andrew Rand says.

"I’m disappointed we can’t keep every job here, but if moving some of its team near Chicago helps Caterpillar thrive, it will benefit Peoria, our county and the surrounding communities." 

 

Keep up to date on the industry by signing up to Trade Earthmover's free weekly newsletter. Be the first to know about new machines for sale.