Caterpillar Inc. announced Tuesday the company will move its headquarters from the Chicago suburb of Deerfield, Illinois, to suburban Dallas, Texas. The move will affect 230 jobs.
“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,” company Chairman and CEO Jim Umpleby said in a release.
Although Caterpillar’s headquarters have been in Illinois since 1930, the company has performed operations in Texas since the 1960s. The corporate leadership of the company may be relocating due to the move, but the company will continue to employ workers at its manufacturing facility in Peoria, Illinois. All told, Caterpillar says it has manufacturing, distribution and other locations in 25 different states.
The second-largest company in less than two months to leave Illinois, Caterpillar followed the steps of Boeing which moved its headquarters to Virginia in May.