Statement on Caterpillar’s Announcement to Relocate Global Headquarters

"I am disappointed to learn about Caterpillar's decision to relocate its Global Headquarters from Peoria to Chicago.  Undoubtedly, the impact of this transition will be significant, presenting the Central Illinois region with challenges for years to come.  That being said, I am reminded about the severe economic downturn of the eighties, which occurred at a moment in time where the Peoria area was not nearly as diversified.  We rebounded successfully from that chapter of our history, and I have hope that we can do the same for our future.  I am encouraged by Caterpillar's commitment to maintain a significant presence in Peoria, though the move is still unfortunate considering both the Headquarters' deep history with the city and also its 2015 promise to forever change the face of Downtown Peoria.  I do believe that the consequences this new reality will have on our hotel industry, the airport, and the local housing market should not be underestimated.  Now more than ever, this area must embrace its own winning spirit, its "Never-Say-Die" attitude, and rise up to meet the new challenges of the day."

No comments :