CAT CEO Warns Ill. Governor
PEORIA, ILL.(IRN)–The CEO of Peoria-based Caterpillar Inc. is raising the specter of moving the heavy equipment maker out of Illinois.
In a letter to the governor last week, Caterpillar Chief Executive Officer Doug Oberhelman said officials in at least four other states have approached the company about relocating since Illinois raised its income tax in January.
The governor says he isn’t worried, and notes that Caterpillar is successful in Illinois, where it employs 23,000 people who “know how to get the job done.” Quinn has a meeting with Oberhelman scheduled for April 5 in Peoria.