PEORIA, Ill -- Caterpillar Inc. announced Monday that it will launch an in-depth study to explore the timing and options for updating its world headquarters presence in Peoria.
Over the next several months, the study will define the facilities, technological and organizational needs of an increasingly global enterprise as Caterpillar pursues its commitment to long-term profitable growth.
"The timing for launching this study of our downtown headquarters is logical given how Caterpillar and the world have changed since the Administration Building was built nearly 50-years ago when our customers, markets and manufacturing facilities were primarily domestic," said Jim Baumgartner, director of Corporate Public Affairs.
"This is about planning for the future," Baumgartner continued. "The study will help us define the direction we need to take to create a corporate headquarters footprint in Peoria that serves the needs of a very different company for the next half a century."
Caterpillar says that while the Administration Building was modern and state of the art at the time of its construction, it now has infrastructure which cannot efficiently support today's needs or those of the future.
Caterpillar says it looks forward to sharing the results of the study and next steps with its employees and the greater Peoria community in the coming months.