Caterpillar considering move from Illinois
Last month we told you the story of three companies that were moving – or seriously considering it – because recent tax increases were making it too expensive to do business. In another such example, the Chairman and CEO of Caterpillar Inc., Doug Oberhelman, sent a letter to Illinois Governor Pat Quinn informing him he has been approached by other states about relocating in the wake of Illinois raising its income tax rate. Oberhelman says he is considering the offers.
Pantagraph, a central Illinois paper, reports:
“I want to stay here. But as the leader of this business, I have to do what’s right for Caterpillar when making decisions about where to invest,” Oberhelman wrote in the letter obtained Friday by the Lee Enterprises Springfield bureau. “The direction that this state is headed in is not favorable to business and I’d like to work with you to change that.”
Oberhelman said he’s being actively courted to move.
“I have been called, ‘cornered’ in meetings and ‘wined and dined’ — the heat is on,” Oberhelman wrote. “Before, I never really considered living anywhere else and certainly never considered the possibility of Caterpillar relocating. But I have to admit, the policymakers in Springfield seem to make it harder by the day.”
Cat spokesman Jim Dugan said the letter was designed to show Quinn that Oberhelman wants to be involved in finding solutions that benefit the company, which employs 23,000 people in Illinois.