Caterpillar Inc. has announced it will move its global headquarters to the company’s existing office in Irving, Texas, from its current location Deerfield, Illinois.
“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,” says Chairman and CEO Jim Umpleby.
Caterpillar traces its roots to co-founders Benjamin Holt and C.L. Best. In 1890, Holt invented a steam tractor while shortly thereafter Best began to focus on early gasoline technology, according to the history section of the Caterpillar website.
The company’s use of tracks to replace wheels yielded the name Caterpillar in 1905, a designation that was formalized with a trademark registration in 1910.
Also in 1910, then California-based Caterpillar opened up a manufacturing plant in East Peoria, Illinois. The company expanded rapidly in Peoria, making the city its corporate home until 2017. That year, Caterpillar announced the move of its executive offices to suburban Chicago.
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.