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Thursday, May 9, 2024

Halbrook: 'I’ve often stated the “Illinois is the greatest economic development tool'

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State Rep. Brad Halbrook | Rep Halbrook website

State Rep. Brad Halbrook | Rep Halbrook website

Rep. Brad Halbrook spoke about Illinois being the greatest economic development tool with respect to Caterpillar’s move being in the strategic interest of the company.

In a Jun. 14 Facebook post, Halbrook addressed Caterpillar's decision to move to Texas stating the potential that Illinois holds.

"The move is "in the best strategic interest of the company," Chief Executive Jim Umpleby said in a statement today. 240 jobs moving to Texas. I've often stated that "Illinois is the greatest economic development tool a neighboring, southeastern & southwestern state could have." What will Governor JB Pritzker & his majority party say about this? What about losing Boeing in May after the $60,000,000 of tax incentives ran out? Who's next? When will this ever end? #stoptheexodus #restoreillinois #leadership #policychangeneedednow," said Halbrook on Facebook.

According to Marketwatch, the company said that there are more Caterpillar workers in Illinois than anywhere in the world, "The headquarters was historically in downstate Peoria, Ill., before a move to the Chicago suburb of Deerfield in 2017."

In a Jun. 14 news release, Caterpillar announced their decision to move: "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. Caterpillar has had a presence in Texas since the 1960s across several areas of the company. Illinois remains the largest concentration of Caterpillar employees anywhere in the world. The company will begin transitioning its headquarters to Irving in 2022.

Bloomberg noted that: "The machinery producer believes the move will help it attract new talent and improve global access to its employees, customers and dealer network due to the two major airports in the region, according to an email to Bloomberg News. The company said in a statement it will begin shifting its Deerfield headquarters to Irving, Texas, this year, affecting 230 jobs."

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