Construction Giant Caterpillar Sets Sights on the Dallas-Fort Worth Area
CAT manufactures heavy construction and mining equipment worldwide. So, it was big news when Caterpillar announced plans to relocate its global headquarters to Irving, Texas. Moving from Deerfield, Illinois CAT joins more than 125 companies that migrated to the state of Texas since 2019.
Caterpillar had an existing office in Irving, Texas. Located just northwest of Dallas, it will act as the company’s new worldwide headquarters starting later in 2022.
Caterpillar had this to say about its decision to relocate to the Texas “Lone Star State”.
“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.”
Jim Umpleby, chairman and CEO of Caterpillar (CAT)
Caterpillar Moving to Texas – The Big Deal
Hundreds of technology, manufacturing, and financial companies have decided to relocate to Texas since 2019. The fact that Caterpillar finally decided to move makes logical sense. Leaving their Deerfield, Illinois office means Texas had some nice incentives.
Worldwide, Caterpillar currently employs over 107,000 people. Clearly, the move must have improved their bottom line. From what companies and media report so far, moving to business-friendly states like Florida and Texas gives companies a leg up in what is an increasingly competitive environment.
Before Caterpillar relocated to Texas, the company had already established an office there. In fact, CAT has operated out of Texas since the 1960s. They opened up their Irving office in early 2022 to work with the company’s electric power division.
From the reports we read so far, CAT believes almost all of the company’s 230 employees will relocate from Illinois to Texas. This move should not disrupt any normal business operations. We look forward to seeing if this leads to additional expansion in the near future.
