Caterpillar, Inc. To Build New, Expanded World Headquarters In Peoria

On hand for the announcement of Caterpillar’s new world headquarters in Peoria, Illinois House Republicans praised the Caterpillar decision and commitment to retaining their headquarters in Illinois.

The decision to build their new headquarters was announced on Friday, February 20, at the Caterpillar Visitors Center by Chairman and CEO Doug Oberhelman before a crowd of state and local dignitaries and leaders. Caterpillar’s new corporate campus will be built in a largely expanded footprint extending several blocks around Caterpillar’s current headquarters. The total campus size when completed will be over 31 acres of Downtown Peoria along the Illinois River. The new headquarters will be a three tower building spanning six city blocks.

“We’re here in Peoria to stay. Our long-term future is here,” said Caterpillar Chairman and CEO Doug Oberhelman in announcing the new headquarters campus.

Governor Bruce Rauner went on to call this is an “outstanding day for Illinois!”

Peoria area legislators, Deputy Minority Leader David Leitch (R-Peoria), Rep. Keith Sommer (R-Morton) and Rep. Mike Unes (R-East Peoria), were on hand for the announcement, along with federal, state, and local dignitaries and community leaders.

“This is the biggest economic development investment in Central Illinois in my lifetime,” said Rep. Unes. “Caterpillar has re-committed itself to our region and the economic development implications will be long-lasting and far reaching.

Caterpillar Inc., traded on the New York Stock Exchange, is a component of the Dow Jones Industrial Average. In 2014, the firm posted worldwide revenue of $55.6 billion and net income of $5.7 billion. The firm’s headquarters oversees more than 125,000 employees in facilities located on six continents, including 3,200 employees in downtown Peoria. Caterpillar’s yellow-and-black logo leads a wide variety of global brands that are stamped on fixed and mobile machinery used in construction, power generation, railroading, and many off-road uses.

Caterpillar has previously demonstrated its commitment to Peoria by opening its Visitors Center in the Peoria Riverfront complex. The firm has had a presence in the Greater Peoria area since 1910. The heritage and hospitality center, which opened in 2012, carries visitors from an overview of Caterpillar’s history to an appreciation of the machines it is making today and plans to design in the future for customers around the globe.