(CercleFinance.com) – Caterpillar announced Tuesday evening that it has decided to move its global 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 stresses that the state of Illinois will continue to house the majority of its workforce.
In its release, Caterpillar says it plans to begin moving its headquarters to Irving, which is located in the greater Dallas-Forth Worth metropolitan area, later this year.
Texas offers advantageous taxation since the state does not tax the income of individuals or corporate profits, a feature that has prompted many companies to settle in the ‘Lone Star State’, starting with Tesla.
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