Great Day in Peoria, Illinois Today

Caterpillar announced they are keeping AND rebuilding their corporate headquarters in Peoria.
Kinda proud to say we had a little involvement on the "ground" level!
Bulldoze Here

Should really change downtown peoria forever. Good news for a whole bunch of folks. Even guys that drill holes in the ground.
billonthefarm

Good for Caterpillar

Speaking as a Retired employee of 41 years, Let's hope the planning department provides considerably more parking for visiting employees.
As parking on the street was a real UGLY issue.
Yes I am speaking from many, many, Many personal experiences. Keep in mind Caterpillar is a World Wide Business with Employees visiting the Corporate Head Quarters from all over the Globe.

And you have aright to be proud. Interesting video. That is quite a commitment, building a complex of that size. I guess you could say that area will be "crawling" with construction for a while.
I noticed the Governor stated that Caterpillar had never asked for any perks, handouts, or incentives. I respect a company like that. Glad to hear someone got some good news today.

Great for Peoria. Not so good for the two plants they are closing in NC. All those folks that have been with them for years are just out.

Maybe Cat has an insider like john deere that knows they are going to continue or enlarge the wars. So Cat will be in the tall cotton longer.

It takes planning!

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Good news for Illinois, Cat must have some inside info on changes coming our way with new Gov. Bruce Rauner?

I hope it works out.

I am amazed that any companies are left in Illinois with the shape the government is in there. They will be taxing anything that is above dirt to try and make up the deficits there.

I personally know 4 small business men that LEFT Illinois in the last few years over the high taxes.

ADM. is still here

True son: The BIG companies went to the government and got exceptions or credits to offset the tax hikes. So they are not paying the full load of taxes.

I remember Cat threating to leave if they did not get the state to back off of them.

Here is excerpt of one article about theses tax credits.

"Deere & Co., Boeing Co. and Caterpillar Inc., whose leader severely criticized lawmakers for tax hikes, were among dozens of companies that received more robust tax breaks. Some companies' deals also allowed them to be in line to receive tax incentives even while laying off workers or lowering wages.

The EDGE program allows a business to claim a credit against its corporate income tax liability if it agrees to create and/or retain jobs and make an investment in the state of at least $1 million, for companies with fewer than 100 workers, and at least $5 million for larger companies.

Once accepted into the program, which typically lasts 10 years, a company applies on an annual basis for a tax credit certificate, similar to a voucher, which it can claim when it files its taxes."

The link below is to the full article.

The trouble is the smaller companies and individual owned business do not get these tax credits. This is the trouble. The government is stacking the deck against the smaller business guys.
Chicago Tribune article on tax cretis for large Corporations in IL

Lot of Fortune 500, Dow stocks and medium to small companies still here in Illinois.

Just needed a new governor and part of the legislator to try to things back under control and move forward!

Unless he can break Cullerton and Madigan's habit of pilfering funds dedicated to other projects, and spending money that we don't have, I think Rauner is just beating his head against a wall.

Maybe that is the real reason their stock is going down. joe

Agree Rauner will have his hands full, but as one article written about him said "he knows where the bodies are buried". Did not get where he is by being stupid and as I understand, Illinois House and Senate don't have the votes to override a veto.Unlike our so called President, Rauner can truly blame previous Administrations.

It's not just Illinois, all the states listen to big money.

I do not know how close the two are connected but Cat retail finance just moved into a larger building in Nashville. Think something like 650 folks employed there. Wonder if they will get moved to Peoria.