Another big company just added its name to the list of companies moving to Texas. Caterpillar Inc produces construction and mining equipment and has had a home in Illinois for more than 100 years.
Although the company has had some type of presence in the State of Texas for more than a half-century, the majority of its employees still reside in Illinois. Moving its headquarters from Deerfield to Irving is expected to affect 230 jobs.
The company hopes it will improve its global access and help attract new talent in the future. The company also credits the region for its high-quality schools and for having a range of different housing prices.
Last year, Caterpillar announced it was putting its Electric Power division in Irving. That section of the company makes generators. The previous announcement from the company meant the creation of 500 jobs in Irving and an investment totaling around $5 million in the local community.
The latest announcement from Caterpillar means yet another major company is relocating to Texas, following Oracle Corp and Tesla Inc. According to state officials, it now means there are more than 50 Fortune 500 companies with corporate headquarters in Texas.
Texas boasts the advantage of a large labor pool and no income tax, both of which are undoubtably big selling points when it comes to attracting new businesses to the state. Caterpillar has more than 100,000 employees around the world.