Sunday Apr 02, 2023

Caterpillar Inc. moves headquarters to Irving – The Dallas Morning News


Industrial giant Caterpillar Inc. is moving its headquarters from suburban Chicago to Irving.

The company has about 120 workers now in an Irving office and Caterpillar spokeswoman Kate Kenny said the size of its local workforce will depend on future business needs. The international manufacturer of construction and mining equipment, engines, generators and locomotives has had a presence in Texas since the 1960s.

“We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world,” said chairman and CEO Jim Umpleby in a statement.

Caterpillar, which posted $51 billion in revenue last year, will become the fifth-largest public company headquartered in North Texas. It will trail only Exxon Mobil, McKesson, AT&T and Energy Transfer. Exxon is moving its Dallas-Fort Worth headquarters to the Houston area next year.

The move will make D-FW home to 24 Fortune 500 companies. Ten of those will be in Irving, which bills itself as the “headquarters of headquarters” city. Dallas-based Builders FirstSource recently announced its relocation to Irving.

Caterpillar didn’t request incentives for the headquarters move, Kenny said.

Beth Bowman, president and CEO of Irving-Las Colinas Chamber of Commerce and Irving Economic Development Partnership, said companies choose Irving and D-FW overall because of their business-friendly environment, favorable tax structure and the people.

“Our focus is to make sure Caterpillar, their entire team within their global headquarters, know that they are coming into a community that wants them and we look forward to integrating them,” Bowman said.

Gov. Greg Abbott said the company’s relocation is a “testament to the boundless opportunity Texas has to offer.” He noted that the move means Texas will be home to 54 Fortune 500 companies.

“Businesses of all sizes and people from all backgrounds can grow and succeed in the Lone Star State because we champion a world-class economic environment fueled by the lowest business operating costs in the nation, a reasonable regulatory environment and a lower cost of living coupled with an exceptional quality of life,” Abbott said in a statement.

Kenny, the company’s global media and public affairs manager, cited talent attraction as a key reason for the move.

“We believe being in the Dallas Fort-Worth market will give us the ability to attract new talent and provide additional career opportunities for our current employees to aid in retention,” Kenny said. “The Irving location provides global access to our employees, customers and dealers with close proximity to two major airports.”

Jason Kaiser (left), vice president of Caterpillar Inc. with responsibility for its electric power division, and Jaime Mineart, general manager for retail electric power solutions, spoke with the media in May during a tour of Caterpillar’s Williams Square offices in Irving.(Ben Torres / Special Contributor)

Caterpillar’s office in Irving’s landmark Williams Square gives employees a mix of downtown Dallas and suburban residential areas and a range of housing price points and high-quality school districts, Kenny said.

In 2017, the company moved its global headquarters from Peoria, Ill., to Deerfield, Ill., taking over the former headquarters of a premium spirits maker. At the time, Caterpillar did not receive any incentives from Deerfield …….


Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top