Bbg: $CAT Leaves IL for TX

Bloomberg headline: Caterpillar Leaves Illinois After Decades to Move to Texas

* Company to begin moving headquarters to Irving this year
* Move comes five years after Caterpillar left Peoria, Illinois

ByJoe Deaux
June 14, 2022, 4:38 PM UTCUpdated onJune 14, 2022, 5:30 PM UTC

Caterpillar Inc., the producer of iconic yellow construction and mining equipment, is moving its headquarters to the Dallas-Fort Worth area, effectively ending its century-long history calling the state of Illinois its home.

The machinery producer believes the move will help it attract new talent and improve global access to its employees, customers and dealer network due to the two major airports in the region, according to an email to Bloomberg News. The company said in a statement it will begin shifting its Deerfield headquarters to Irving, Texas, this year, affecting 230 jobs.