Posted on 02/09/2012 6:52:11 AM PST by 1rudeboy
PEORIA -- Caterpillar Inc. will not be building its new North American plant anywhere in the state of Illinois, officials with the company told local leaders Tuesday, with part of the reason being continued concerns about the business climate in the state.
The company will instead focus on a location closer to its division headquarters in Cary, N.C., Peoria County officials were told in an email sent to them shortly after the close of business and later obtained by the Journal Star. The plant stood to bring with it from Japan roughly 1,000 jobs manufacturing track-type tractors and mini hydraulic excavators.
Peoria County had submitted a regional proposal for the facility at the end of last year, and the Galesburg area also had a proposal on the table for the manufacturer. Peoria's proposal reportedly included economic incentives as well as a promise of a legislative effort to establish a tax increment financing district to benefit the company.
At its core, Caterpillar's decision reflects some concerns its officials had previously expressed about the economic condition of the Land of Lincoln.
"Please understand that even if your community had the right logistics for this project, Caterpillar's previously documented concerns about the business climate and overall fiscal health of the state of Illinois still would have made it unpractical for us to select your community for this project," the letter reads in part. "Caterpillar intends to continue calling for long-term changes in Illinois and to offer help to the state as it works toward real and fundamental reforms that will position communities like yours to compete for future projects."
(Excerpt) Read more at finance.comcast.net ...
Although Caterpillar remains one of Illinois' largest employers, the company has consistently bypassed the state for new plants, as it opted for sites in Texas, Arkansas and North Carolina. Chairman and Chief Executive Dough Oberhelman has been highly critical of state officials, revealing last year that he considered moving the company's headquarters from Peoria after Illinois increased its corporate income tax rate.
Late last year, Caterpillar also criticized Illinois legislators for delaying the renewal of state tax credits for investments in research and development. Lawmakers extended the tax credit program in January.
Caterpillar Says It Has Narrowed Site List For New Plant, Dow Jones Newswires, Feb. 8, 2012.
Hope and Change in action.
In Illinois now, soon to sweep the country.
Yippppeeee for North Carolina , however we here in S.C. are more business friendly and are a Right to Work State.
Come on Down !!!!!
Any ideas on what we should get Gov. Quinn for Valentine’s Day?
“Right to Work State.” Which now means the NLRB won’t “approve” the project.
Who needs Caterpillar in Illinois when they have their favorite son, Obama the Messiah, to pay their mortgage, buy their gas, and hand out food stamps.
Why work when the Candy Man is there to redistribute the wealth.
Good on you, CAT!!!
Indiana has one plant in Indiana and we are now a right to work state....More please.
Illinois will continue its downward spiral until there is a turn-around in family values.
Good for Cat, and I speak as one who’s regrettably still stuck in this God forsaken state. Maybe if the drones around here get hit with a proverbial 2 by 4 enough times, they’ll wake up.
Ya, after that fiasco with the NRLB and Boeing going to South Carolina rather than expanding in Washington state, I wonder what the reaction will be.
That any of us think about that shows how much the political climate has changed. Now we’re wondering if a company is going to get in legal trouble if they decide not to build or expand facilities in liberal union states.
A brain.
Ill. don’t need no stinking jobs, I’ll don’t need no stinking revenue, I’ll don’t need no stinking oil.
A factory that builds tracked vehicles in the South. I like it. Could quickly be converted for “other” purposes if needed.
I don’t know about that , we pretty well defeated the NLRB over Boeing. And we’re willing to go to the mat again.
Translation: The blue state model is a disaster and we will have nothing to so with it.
They aren’t asking for huge taxpayer subsidies?
I wouldn’t build a taco stand in Illinois. we closed our plant in Illinois 6-7 years ago and operate there from a plant across the river in Indiana. You should of heard our Illinois resident employees bitch about no Illinois unemployment. worker’s comp etc.
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