- May 25, 2017
World leading manufacturer of construction and mining equipment, Caterpillar Inc., recently announced that it will make Deerfield its new global headquarters. The company reached a multi-year leasing agreement with Deerfield’s Corporate 500 Centre Office Park, 510 Lake Cook Road, and is expected to start moving100 employees into the 100,000 square foot facility this fall. Eventually there will be 300 employees in the new headquarters when it is fully operational in mid-2018.
According to company officials, the jobs will be primarily in core corporate functional areas such as accounting, finance and communications. The site was selected for its convenience to not only downtown Chicago via commuter train, but also to O’Hare airport. Caterpillar CEO Jim Umpleby commented that the site helps achieve their goal to be more accessible to global customers, dealers and employees. “This location will appeal to our diverse, global team today and in the future,” he said, adding that it also gives employees options to live in either an urban or suburban environment.
The move is drawing positive comments from civic leaders and associations as it is expected to be a win for the North Shore business community. “This move is great news for Northbrook and the North Shore area,” comments Chicago North Shore Convention and Visitors Bureau Executive Director Gina Speckman. “Caterpillar hosting meetings and events will have a positive impact on our hotels, restaurants and service businesses. They have been a great corporate citizen in Peoria so I assume they will continue this kind of civic engagement here.”
Renaissance Hotel General Manager Stephen Barr adds, “It’s always great to see companies like Caterpillar move into this area which will be great for business and the community as a whole. We look forward to having the opportunity to partner with them.”
In her statement about the move, Deerfield Mayor Harriet Rosenthal commented that the village’s easy access to transportation, quality schools and neighboring major corporations were a draw. Caterpillar did not receive any incentives from Deerfield or the state.
The Deerfield global headquarters will complement Caterpillar’s footprint in the Chicago area which includes the company’s Digital and Analytics Hub in the Merchandise Mart, which opened in 2016.
The $39 billion company is a world leader manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company has 12,000 employees in the Peoria area.