IRVING, Texas – (Realty News Report) – Caterpillar Inc. will move its global headquarters to the Dallas suburb of Irving, Texas, from its current location in Deerfield, Illinois.
“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.
Caterpillar has had a presence in Texas since the 1960s across several areas of the company. Illinois remains the largest concentration of Caterpillar employees anywhere in the world.
The company, which has 107,700 employees, will begin transitioning its headquarters to Caterpillar’s existing office building in Irving in 2022. Caterpillar currently has its headquarters in the Williams Square development in Irving.
Irving gains the industrial giant just as it prepares to bid farewell to the headquarters of Exxon Mobil, which is relocating to the City Place development in north Houston, near Interstate 45.
Caterpillar is not currently receiving any incentives from the State of Texas for the relocation.
“Caterpillar’s global headquarters relocation is a major win for the people of North Texas and the entire state, now making Texas home to 54 Fortune 500 corporate headquarters. I am proud to welcome Caterpillar’s headquarters to Texas and am excited for the economic opportunities this will create for Texans. Businesses of all sizes and people from all backgrounds can grow and succeed in the Lone Star State because we champion a world-class economic environment fueled by the lowest business operating costs in the nation, a reasonable regulatory environment, and a lower cost of living coupled with an exceptional quality of life. Caterpillar’s relocation to Irving is a testament to the boundless opportunity Texas has to offer, and I look forward to working alongside this global leader as we keep the American Dream a reality for every Texan.”
With 2021 sales and revenues of $51 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment. Caterpillar has had a presence in Texas since the 1960s and will begin transitioning their headquarters to Irving this year.
Last month, Governor Abbott announced that Texas now leads the nation as home to the most Fortune 500 companies in the 2022 Fortune 500 list, with 53 Fortune 500 corporate headquarters.
Caterpiller manufactures construction and mining equipment, generators, engines and locomotives.
The Kubota Tractor Corp. is also located in the Dallas area. Kubota moved its US headquarters from California to Grapevine in 2017.
June 15, 2022 Realty News Report Copyright 2022
File: Caterpillar Moves Headquarters to Texas
Photo Courtesy Caterpillar
THE RALPH BIVINS PROJECT PODCAST
Follow us on Twitter @RNRBulletin
File: Irving. HQ. Caterpillar Moves Headquarters to Texas