Caterpillar Inc.

Caterpillar Headquarters Will Move To Deerfield

Apr 19, 2017
Caterpillar

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.

Caterpillar Inc. is hiring a former U.S. attorney general to help it sort out matters that sparked a federal raid on its headquarters in central Illinois.

William P. Barr will serve as outside counsel to the large equipment manufacturer. He'll help Caterpillar review and address issues relating to Caterpillar SARL, a Swiss parts subsidiary, and tax-saving practices.

Issues with Caterpillar SARL have dogged the company for eight years, sparking a Senate investigation, shareholder lawsuits, and proposed taxes and penalties totaling $2 billion.

Cass Herrington

Caterpillar says it believes that a search warrant executed by federal authorities on Thursday at its facilities concerns "export filings" related to its Switzerland subsidiary CSARL.

Federal officials executed search warrants at several offices of Caterpillar Inc. in Peoria, East Peoria and Morton. People wearing navy blue jackets labeled IRS and Federal Agents carried boxes out of the headquarters building.