The headquarters of Caterpillar is leaving downstate Peoria and moving to Chicago. The Peoria Journal Star reports that 100 employees will move by the end of the year and in all 300 employees will work in the Chicago office once the move becomes finalized. The shift north for Big Yellow will involve top executive and other support staff. Caterpillar was founded in Peoria in 1925 and is the world’s largest manufacturer of earth moving equipment.
Since 2015 the company has been in a cost cutting mode, eliminating 16,000 jobs. Caterpillar says moving to Chicago will allow the company better access to world markets allowing. Caterpillar says no location has been selected or yet been made official.