CEO Says CAT Will Stay in Illinois Despite Letter to Gov.

By WEEK Producer

August 11, 2011 Updated Aug 11, 2011 at 1:10 PM CDT

The C-O of Caterpillar says news headlines screaming the company was considering leaving Illinois were sensational and wrong.

Doug Oberhelman made his first public comments Wednesday since a letter to Governor Pat Quinn was made public late last week.

At a U.S. Chamber of Commerce event in Washington, Oberhelman said he was looking forward to finding ways to invest further in Illinois.

But he also re-stated his concern about the business climate in the state, saying "legislators in Illinois have created an environment that is unfriendly to business and investment, and at Caterpillar, we want to help lead and change that climate."

Oberhelman is scheduled to meet with Governor Quinn next week.