Gov. J.B. Pritzker’s newest campaign ad credits him with fixing state finances and boasts of Illinois’ job growth. Both are among the worst in the nation.
One of the state’s biggest employers is relocating their headquarters to Irving, Texas. A decade ago Caterpillar’s CEO warned state leaders of business losses unless they balanced the budget, controlled workers’ comp costs and cut taxes. He was ignored.
Two sides, one city.
The industry giant’s move comes amid continued disinvestment in Illinois manufacturing.
In February 2012, Caterpillar’s then-CEO Doug Oberhelman outlined needed reforms to save Illinois manufacturing jobs. State lawmakers have failed to act, and the Land of Lincoln is the only state in the region to lose manufacturing jobs since.
The company’s announcement affects 800 hourly employees, though 1,200 workers will remain in Aurora. In January, Caterpillar announced plans to relocate its global headquarters to Chicago and out of its longtime hub in Peoria.
With Peoria and downstate reeling, the Caterpillar move comes at a time of persistent disinvestment in Illinois manufacturing.
Peoria-based heavy-equipment manufacturer Caterpillar has announced a possible move of up to 800 manufacturing jobs out of Aurora.
CAT announces more layoffs due to anticipated losses in 2017.
August records summer-high job losses, including 495 in manufacturing.