Caterpillar Inc. has announced it is moving its corporate headquarters from Peoria to the Chicago suburb of Deerfield.
According to Wednesday’s announcement, the heavy-equipment maker has reached a leasing agreement at a Deerfield office park and expects to relocate 100 employees there this year. About 300 people will be working at the new headquarters by mid-2018.
The company previously announced plans to build a new headquarters complex in Peoria. It cited "challenging market conditions" in cancelling the plan.