Caterpillar Inc. will move its global headquarters this year to the Chicago area from its longtime home in Peoria, Illinois, the company said Jan. 31, as it continues to grapple with weak demand for its earthmoving equipment.
The company moves its executive suite at a time of record-breaking crime in Chicago and a gloomy financial outlook both for the city and the state.
At the same time, Chicago has drawn in big companies such as Archer Daniels Midland Co., one of the world’s largest agricultural trading houses, formerly of Decatur, Illinois, and food maker ConAgra Brands Inc., previously in Omaha, that consider an address in the largest city between the Atlantic and Pacific coasts as a plus for recruiting.
