Caterpillar announces it's staying in Peoria

Feb 20, 2015

An aerial view of Caterpillar's future headquarters.
Credit Caterpillar

The world’s largest heavy equipment maker announced plans to build a 31-acre campus in downtown Peoria.  The news comes after Caterpillar considered building options for two-and-a-half years.

Cat’s World Headquarters in Peoria is more than 47 years old. The new finished campus will span six-blocks near Peoria’s riverfront, and include three office towers, green space, walking paths and retail shops. CEO Doug Oberhelman says the campus makeover is a long-term project.

“It’s going to take the better part of a decade from start to finish. Remember, there will be lots of greenscapes, open areas, (and) you saw trees in there. When we start, (I) cannot guess. I won’t comment on it. It’s certainly not going to be in 2015. We’re going to need to see an economic improvement in the world before that happens.”

Governor Bruce Rauner was also in Peoria for the headquarters announcement. He says many other states and countries tried to lure Cat away from Peoria.

“I personally know what they did, who they called, how often they came, what they offered, and they offered all kinds of benefits. Caterpillar said, ‘No. I’m going to be loyal to the state of Illinois where we were built and where we will build our long-term future.’”

Rauner says Caterpillar also never asked the state for any tax breaks or special incentives.

There’s no public price-tag for the proposed campus, and Cat’s CEO says construction won’t begin until economic conditions improve worldwide.   

Watch a fly through animation of Caterpillar's plans for its new global headquarters campus.