CEO of Caterpillar Considers Relocating Company

By WEEK Producer

August 11, 2011 Updated Aug 11, 2011 at 1:08 PM CDT

The Pantagraph has obtained a letter sent last week to Govenor Pat Quinn.

In it, Caterpillar CEO Doug Oberhelman said officials in at least four other states have approached the company about relocating since Illinois raised its income tax in January.

In the letter, Oberhelman is quoted as saying ""The direction that this state is headed in is not favorable to business and I'd like to work with you to change that."

Also he says that he "certainly never considered the possibility of Caterpillar relocating. But I have to admit, the policymakers in Springfield seem to make it harder by the day."

Cat spokesman Jim Dugan said the letter was designed to show Quinn that Oberhelman wants to be involved in finding solutions that benefit Caterpillar,

Quinn plans on discussing the letter with Oberhelman April 5th when the two meet at a conference in Peoria.

You can read more about this story in Saturday's issue of the Pantagraph.