In what could be the beginning of an Illinois comeback, Caterpillar is about to begin construction on a new headquarters in the company’s hometown of Peoria, according to State Sen. Darin LaHood (R-Dunlap).
"Today is a great day for Illinois and Peoria. Caterpillar is building new headquarters here in Peoria – just the beginning of what I hope will be many announcements throughout Illinois signaling the state's turnaround," LaHood said. "I would like to thank Caterpillar and Chairman Doug Olberhelman for rededicating the company's commitment to the Land of Lincoln."
The new Caterpillar headquarters in downtown Peoria is expected to be an approximate $1 billion investment in the area. Caterpillar is one of Illinois' largest employers responsible for more than 22,000 jobs.
LaHood expressed his optimism that the state's new leadership was partially responsible for the investment in Peoria.
"It is clear that our state is under new management and I firmly believe that Cat's new headquarters will mark a new beginning for Illinois manufacturing and our ability to return as the Midwest's preeminent economic engine," LaHood said.