Caterpillar: to move HQ to Texas

(CercleFinance.com) - Caterpillar announced on Tuesday evening that it has decided to move its world headquarters to Irving, Texas, where it already has offices.


The construction equipment manufacturer, now based in Deerfield (Illinois), explains that it has been present in Texas since the 1960s through several of its activities.

The group says that the state of Illinois will continue to be home to the majority of its workforce.

Caterpillar says that it plans to begin moving its headquarters to Irving, which is located in the greater Dallas-Forth Worth area, later this year.

Texas offers a tax advantage as the state taxes neither personal income nor corporate profits, a feature that has led many companies to set up shop in the "Lone Star State" - including Tesla.


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