Another corporate headquarters moves to Texas

 MSN:

Caterpillar Inc. said Tuesday it will move its global headquarters from Illinois to an existing divisional office in Irving, Texas, in the Dallas–Forth Worth area, in another blow to metropolitan Chicago, which last month lost the Boeing Co. headquarters.

The move is “in the best strategic interest of the company,” Chief Executive Jim Umpleby said in a statement. The heavy-machinery maker has had a presence in Texas since the 1960s, it said.

Even with the move, Illinois has the largest concentration of Caterpillar employees anywhere in the world, the company said. The headquarters was historically in downstate Peoria, Ill., before a move to the Chicago suburb of Deerfield in 2017.

Boeing in May said it was moving its global headquarters to Arlington, Va., outside Washington, D.C., promising to keep a “significant presence” in downtown Chicago, where it moved in 2001 from Seattle.

Caterpillar said it would begin the relocation this year, without proving further details.

Texas welcomed Tesla Inc.’s headquarters last year, with Chief Executive Elon Musk blaming the San Francisco Bay Area’s lack of affordable housing for the move. Tesla was headquartered in Palo Alto, in the heart of Silicon Valley.

Musk said in 2020 that he had moved to Texas, saying that Silicon Valley has had “too much influence in the world.”
...

The move should have tax advantages for Caterpillar and provide access to an area of greater construction projects. 

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more