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.BTW, CAT announced they will be locating a somewhat smaller facility in Indiana. You know that Indiana just passed right to work legislation. Coincidence?
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.
Thursday, February 09, 2012
One of the most advisarial business environments in the country, any wonder why.
Posted by traderrob at 4:44 AM