Illinois is losing Caterpillar headquarters to Texas

The construction equipment company has been headquartered in Illinois since 1925 and will relocate to Texas, Irving, later this year.

Earns Caterpillar
In this Sept. 7, 2011 photo, a Caterpillar 330D L hydraulic excavator is shown on the field of the Marlins ballpark in Miami. Wilfredo Lee / AP Photo
Earns Caterpillar
In this Sept. 7, 2011 photo, a Caterpillar 330D L hydraulic excavator is shown on the field of the Marlins ballpark in Miami. Wilfredo Lee / AP Photo

Illinois is losing Caterpillar headquarters to Texas

The construction equipment company has been headquartered in Illinois since 1925 and will relocate to Texas, Irving, later this year.

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Just six weeks ago, Boeing said it would move its headquarters from Chicago to the Washington D.C. area. Now, another longtime Illinois company plans to leave.

Reset gets the latest on Caterpillar’s move and whether it’s part of a larger trend.

GUEST: Sarah Freishtat, Chicago Tribune business reporter