Caterpillar Tuesday announced it has cancelled plans for a global headquarters in downtown Peoria. Cat will move its new headquarters to Chicago by year's end. Company spokeperson Rachel Potts told W-M-B-D radio that they will lease space in Chicago, which will be a minimum expense compared to previous plans;
Potts says the Chicago move will affect about 300 employees, about 100 of which would relocate from Peoria. She says central Illinois will have a major role in the equipment manufacturer's future;
In February, 2015 Caterpillar announced plans for a nearly two-million square foot global headquarters campus in Peoria, spanning about 30 acres along the city's riverfront area.