Caterpillar will keep calling Peoria home, plans new headquarters

21.2.2015, 00:28 -

After completing a two-year study on whether to move or stay, Caterpillar won’t be picking up stakes after all and will now start to expand its global headquarters in Peoria.
CEO Doug Doug Oberhelman said the equipment manufacturer will build a six-block campus in Peoria. A downtown revitalization plan is also in the works.
”Caterpillar’s roots in the Peoria area run deep, and this year we celebrate 90 years as a company – a perfect time to share our plans of where we plan to be anchored as we continue to build, develop and power the world,” said Oberhelman in a news release.
Full news release is here:
CATERPILLAR REAFFIRMS ITS COMMITMENT TO ILLINOIS AND PEORIA AS COMPANY’S GLOBAL HEADQUARTERS
After a multiyear study focused on modernizing its global headquarters, Caterpillar Inc. today reaffirmed it will remain in Peoria, Illinois, and revealed a design that will eventually span 31 acres on the city’s riverfront. The key elements of the campus are:
A three-tower building located in the heart of a six-block campus, which includes innovative work spaces and amenities designed to retain and attract the finest talent in the world.
A commitment to invest and act as a catalyst in Peoria, helping revitalize the downtown and the region as a vibrant destination. While Caterpillar is truly a worldwide company with facilities that span the globe, Peoria remains its headquarters.
“Caterpillar’s roots in the Peoria area run deep, and this year we celebrate 90 years as a company – a perfect time to share our plans of where we plan to be anchored as we continue to build, develop and power the world,” said Caterpillar Chairman and CEO Doug Oberhelman. “This campus represents an investment in both our people and community, with such features as collaborative work areas, improved technology, a more energy-efficient design, green space and an expanded showcase of our historical equipment, along with food and retail shops – an inviting destination not only for employees, but also for customers, dealers and suppliers from around the world.”
This is a multiyear project beginning with minor site preparation this year, but construction will not begin in 2015. Work continues with the city of Peoria – a key partner throughout the study – on a redevelopment agreement and initiatives like campus design and downtown streetscaping.
“While we are moving forward, we’ll manage our costs very carefully in a tough global environment,” Oberhelman added. “We recognize that building a global headquarters is a long-term, strategic investment aimed at improving our competitiveness. This new campus will position us for decades to come, serve as an engaging, more productive environment for our current workforce and improve our ability to recruit the best and brightest employees, who are hands down our most valuable asset. We also shouldn’t underestimate the potential of this project to serve as a springboard for regional economic development and look forward to continuing our strong partnerships with our key area stakeholders.”
The six-block campus includes the following:
The headquarters building, consisting of three office towers with parking structures below, will have sustainable design features and is sized for approximately 3,200 people, which represents a consolidation of employees who are currently located in downtown Peoria today. The towers will be connected by a three-story horizontal office space spanning two city blocks, easily identified by the iconic Cat