Caterpillar Announces It Will Stay In Peoria

Feb 20, 2015

The Caterpillar Administration Building
Credit Flickr/File Upload Bot (Magnus Manske)

Caterpillar says it’s staying in Peoria. The world’s largest heavy equipment maker announced plans to expand its world headquarters in downtown Peoria after a two-and-a-half-year building study. Governor Bruce Rauner says many other states and countries tried to lure Cat away from Peoria, “I personally know what they did, who they called, how often they came, what they offered, and they offered all kinds of benefits. Caterpillar said, ‘No. I’m going to be loyal to the state of Illinois where we were built and where we will build our long-term future.’”

Rauner says Caterpillar also never asked the state for any tax breaks or special incentives. The proposed 31-acre campus will span six blocks near the riverfront and include green space, three central towers for employees and retail options. There’s no price-tag for the proposed campus, and Cat’s CEO says construction won’t begin until economic conditions improve worldwide.