By Illinois Radio Network
SPRINGFIELD – Caterpillar’s decision to move its headquarters from Peoria to Chicago isn’t really all that shocking.
Leaders at Caterpillar say they want to be near the state’s biggest city, have access to a world-class airport and attract talent by being in Chicago.
But the move from central Illinois to Chicago simply follows the economic trend in Illinois: the city and suburbs are seeing economic growth while downstate Illinois is losing jobs and opportunities.
Greater Peoria Development Council CEO Jennifer Daly said it’s something she sees regularly.
“It continues to be a challenge to recruit and retain companies,” Daly said of trying to bring jobs to Peoria. “In the future, the more important question is about growing our own talent.”
Daly said the state of Illinois can help all downstate communities at the Capitol by creating a business climate that make downstate as attractive as possible.
“We have a lot of instability in Illinois,” she explained. “That instability is really damaging to our region, especially when it comes to business and talent development.”
Daly said Cat will still have about 12,000 people working in and around Peoria; the company said the city will always be home.
Caterpillar’s decision to move its headquarters to Chicago means as many as 300 top executives and support staff will see their jobs move.
