DEERFIELD, Ill. — Manufacturing giant Caterpillar Inc. has announced that it is moving its headquarters from Illinois to Texas.
In a news release published on Tuesday, June 14, the company revealed the relocation of its global headquarters from Deerfield, a Chicago suburb, to an existing company office in Irving, Texas in the Dallas-Forth Worth area.
Caterpillar says that the transition is set to begin in 2022 and that Illinois still contains the largest group of Caterpillar employees in the world.
"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 Chairman and CEO Jim Umpleby.
The company told Bloomberg that this move will impact 230 jobs.
The company used to be headquartered in Peoria, Illinois, about two hours away from the Quad Cities, before moving its location in 2017 to Deerfield in the Chicago suburbs.
Caterpillar has been present in Texas since the 1960s across several parts of its corporate structure.
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