Caterpillar: Tax Vote Sign of Illinois Dysfunction
Caterpillar Inc. says this week's vote by Illinois lawmakers that killed a package of tax breaks for several companies was a bad signal to send. Illinois is trying to convince the heavy-equipment maker to build a new factory in the state.
Caterpillar's Jim Dugan told The Associated Press that Tuesday's vote was a product of the state's "rudderless, dysfunctional business climate.''
The tax package was intended to hold onto Sears and several financial exchanges that have threatened to leave Illinois.
Peoria-based Caterpillar plans to move about 1,000 jobs from Japan to a North American location still to be decided.
Illinois officials have said they've talked to the company about possibly building the plant in the state. They did not immediately respond to requests for comment.