Another Big Company Announces Plans to Relocate Headquarters to Texas
The Lone Star State continues to see both residential and industrial growth. As more and more people are moving to Texas, so is big business.
The world's largest construction equipment company announced their plans to relocate their global headquarters to Irving, Texas.
Big Business in Texas
It's happening more and more as big business' are packing up and heading to the great state of Texas. In recent months we've seen many big enterprises come to Texas including Tesla, Oracle, and Hewlett Packard, just to name a few.
Why are so many businesses heading our way? According to Hartman Income REIT Management, Texas is attractive in many ways:
- Having the 9th largest economy in the world.
- Texas exported $375B in 2021 making us #1 US exporter.
- Texas is the largest energy-producing state in the nation.
- Texas ranks in the top 5 in the nation with a 90% graduation rate.
- With more than14 million people in the civilian labor force, Texas comes work ready.
- Texas creates jobs. 694,400 jobs were added in 2021 which makes the state a leading jobs creator for the 9th year in a row.
It's no wonder big business is heading to our state!
Welcome to Texas
Governor Abbott took to Twitter to make yet another big announcement.
Caterpillar Inc will move their headquarters from Deerfield, Illinois to Irving, bringing our state its 54th Fortune 500 company.
Chairman and CEO Jim Umpleby said in a news release:
We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world.
Caterpillar says they expect the majority of the 270 employees from their Deerfield location to make the move with them.
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