Caterpillar Inc. said on Tuesday it would move its global headquarters to Irving, Texas from its current location in Deerfield, Illinois, marking an end to the company's century-long presence in the Land of Lincoln.
The construction equipment maker is the latest big manufacturer to exit Illinois. Last month, aerospace giant, Boeing announced that it would move corporate headquarters from Chicago to Arlington, Virginia.
A company spokesperson said most of its 230 employees based in Illinois will transition to the new headquarters over time.
CAT hosted its bi-annual Investor's Day in Grapevine, Texas, last month. Currently the machinery maker's electric power division operates out of its Irving office.
The company did not respond when asked if it will maintain a presence in Illinois.
© 2022 Thomson/Reuters. All rights reserved.