Posted on 03/25/2011 8:10:52 PM PDT by Islander7
SPRINGFIELD -- The chairman and CEO of Peoria-based Caterpillar Inc. is raising the specter of moving the heavy equipment maker out of Illinois.
In a letter sent March 21 to Gov. Pat Quinn, 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.
"I want to stay here. But as the leader of this business, I have to do what's right for Caterpillar when making decisions about where to invest," Oberhelman wrote in the letter obtained Friday by the Lee Enterprises Springfield bureau. "The direction that this state is headed in is not favorable to business and I'd like to work with you to change that."
Oberhelman said he's being actively courted to move.
(Excerpt) Read more at pantagraph.com ...
The tax hike has led to attempts by other states, including Wisconsin, Indiana and New Jersey, to try and poach companies that don't want to stay in the Land of Lincoln.
Oberhelman also sent along correspondence Cat has received from other states.
"I stand ready to help convince you to relocate or expand in the fiscally conservative, low-tax Lone Star State," wrote Texas Gov. Rick Perry in a Jan. 24 letter.
The rent...
is too damn high!
Oh no. /s
the funny part is the majority of their sales take place internationaly as US construction has plummeted by 48% on average
The Land of Lincoln is slowly shrinkin’.
What a shock.
Illinois must be a miserable, pathetic place to do business if New Jersey is seen as a viable alternative.
come to Florida!
I wonder what Guv Brown from California has offered?
Cat has already opened a couple of plants in TX.
Might as well move the whole kit & kaboodle down here.
I guess Obama is going to print more money so the Government can take over CAT and mold it into a company that no one wants to buy a product from.
Cheers!
Wow! If Cat ends up leaving Peoria, that would be really earth-shaking for Illinois and should be a huge wake-up call for Springfield. Should.
What a stupid bunch of ASSes Boeing heads were for moving there.
Oberhelman said he's being actively courted to move.By four states pimping out their own citizens who will get stuck paying for goodies given to Cat.
No surprises here. For me, the only surprise is that more businesses haven’t announced they are leaving states like Illinois, New York and Kalifornia - states apparently run by Karl Marx and his brothers Harpo, Zeppo and Groucho.
My cousin in Peoria worked there for many years, bet she’s glad she finally got retired and can sit at home and play with her grandkids all day.
“..mold it into a company that no one wants to buy a product from.”
Roadgraders powered by AAA batteries.
Watch out for EXEMPTION type arrangement “Sebelius style.”
“including Wisconsin, Indiana and New Jersey”
Snort, snort, snicker, snicker, bwahahahahahahaha.
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