Peoria Standard

Caterpillar is moving its headquarters out of Illinois because of the state's anti-business policies, according to Republican gubernatorial candidate Sen. Darren Bailey (R-Xenia).

“Caterpillar has long warned Illinois about the consequences of the state’s poor business policies, starting with a long-standing company policy of refusing to build new facilities in Illinois," Bailey said. "They have made it clear that Illinois’ antibusiness environment is the reason why they won’t build new facilities in our state. So, it is not surprising the company is taking the next step and moving its headquarters out of state. It is time we had leaders who will listen to the business community and take what they have to say seriously. Illinois has long been ranked one of the worst states in the country for doing business." 

Bailey said Republicans have warned this would happen. 

"My Republican colleagues in the House and the Senate have raised these concerns, and the Democratic majority along with Gov J.B. Pritzker refuse to even acknowledge we have a problem not only attracting companies to move but also keeping the ones we have," Bailey said. "Make no mistake about it. Caterpillar is moving because of the failed policies of J.B. Pritzker and his allies in the House and the Senate. It is a sad day for Illinois.”

Bailey said if elected he intends to “work to fully reopen the economy and our schools, attract new business, and fuel job creation in Illinois."

On June 14 Caterpillar announced it would be moving its headquarters to Irving, Texas, the Chicago Tribune reported. Caterpillar Chairman and CEO Jim Umpleby said in a statement the move was for the best “strategic interest” of the company. Caterpillar said the move only affects the 230 employees in its headquarters.

According to MarketWatch, even with the move, Illinois has the largest concentration of Caterpillar CAT employees anywhere in the world, the company said. 

The announcement comes six weeks after Boeing moved its headquarters from downtown Chicago.

Caterpillar held its centennial celebration in 2010 in Peoria where it was based until 2007.