Caterpillar to Move Headquarters to Chicago Suburb of Deerfield, Ill.
April 19 2017 - 6:54PM
Dow Jones News
By Andrew Tangel
Equipment giant Caterpillar Inc. will move its headquarters to
Deerfield, Ill., choosing the Chicago suburb over the city
itself.
The maker of construction and mining machinery on Wednesday said
Deerfield's proximity to O'Hare International Airport and a
commuter railroad would help Caterpillar executives stay more
connected to the world. A spokeswoman also cited the suburb's
proximity to a smaller airport that serves corporate jets.
Caterpillar has been based in the central Illinois city of Peoria
for decades.
Caterpillar will join other major corporations with offices in
Deerfield, including Walgreens Boots Alliance Inc., the parent
company of Walgreens drugstores, and Oreo-maker Mondelez
International Inc.
Caterpillar Chief Executive Jim Umpleby said moving to Deerfield
would make the company more accessible to its global customers,
dealers and employees.
"This site gives our employees many options to live in either an
urban or suburban environment," Mr. Umpleby said. "We know we have
to compete for the best talent to grow our company, and this
location will appeal to our diverse, global team."
Caterpillar said it had reached a "multiyear leasing agreement."
About 100 employees will move to the office later this year, and
about 300 employees are expected to be working there in 2018.
Caterpillar decided against the city of Chicago despite Mayor
Rahm Emanuel's push to recruit companies to locate their offices
there. A spokesman for Mr. Emanuel said the city looked forward to
working with Caterpillar.
McDonald's Corp. is among the latest companies that have
announced plans to move to Chicago in recent years. Caterpillar
last year opened an office in Chicago focused on data analysis.
Write to Andrew Tangel at Andrew.Tangel@wsj.com
(END) Dow Jones Newswires
April 19, 2017 18:39 ET (22:39 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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