Caterpillar, the construction and mining equipment giant, is moving its electric power division, along with hundreds of jobs, to Irving. Caterpillar is the maker of mining and construction equipment, engines, generators, industrial gas turbines, and diesel locomotives, according to its website.
The company is consolidating the workforce from its California, Arizona, and Indiana facilities and moving into “multiple floors” in the storied Williams Square high-rise office near the John W. Carpenter Freeway.
“We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world,” said Caterpillar Chairman and CEO Jim Umpleby.
The Dallas area offers a highly-skilled workforce and provides global access to the company’s customers and dealers with centralized proximity to DFW and Love Field airport, a Caterpillar executive told The Dallas Morning News.
The Electric Power Division had major offices in Lafayette, Indiana; Tucson, Arizona; and San Diego, California. The company has not revealed how many jobs will be coming to the area, but a Caterpillar official told the DMN the number would depend upon business needs and the business groups based in Irving.
In the past year, 62 corporations representing 15 different industries relocated their headquarters to Texas for its pro-business environment, according to YTexas, a business network for companies in the state.
“There’s a reason these major corporations are choosing to relocate here. We have one of the largest economies in the world, a lower cost of living, favorable tax rates, fewer regulations, and access to top-tier talent,” said Ed Curtis, CEO of YTexas.
Tesla Inc., Oracle Corporation, and Hewlett Packard Enterprise Company are some of the largest companies that have recently moved to Texas. Texas is currently the ninth-largest economy in the world by Gross Domestic Product (GDP) and the largest energy-producing state in the nation.