Why are Boeing and Caterpillar leaving Illinois?
Caterpillar offices in Peoria. Reginald Hardwick/IPM News
In the span of two months, two major companies have announced they are moving their corporate headquarters out of Illinois. In May 2022, Boeing said it was leaving downtown Chicago for a suburb of Washington, D.C. In June 2022, Caterpillar announced it was leaving Deerfield, Illinois for Irving, Texas in the Dallas-Fort Worth area. However, most of the company's manufacturing jobs will remain in Illinois.
Guest
John Pletz
Senior reporter (technology, airlines, cannabis), Crain’s Chicago Business
Opinion: The headquarters moves by Caterpillar and Boeing are a sign of how detached the corporate mailbox is becoming from industrial companies’ core manufacturing operations. https://t.co/tQNlPyLXtJ
— Crain's Chicago Business (@CrainsChicago) June 20, 2022