Caterpillar may leave due to high taxes! (Peoria, Rolling Meadows: new home, transfer to)

[sunnyandcloudydays]

CAT is staying in Peoria for the time being- You have brought up valid points and can certainly see why a major corporation would consider a location to a city the size of Dallas.

Some large corporations even want international flights out of a base HQ. This allows them access to their most valuable asset the customer.

A company just last month I was reading about brought up this point and this was their number one decision in their relocation from Oregon to Illinois.

So with that being said it just verifies that taxes are not always a factor on a companies decision of where to locate.

It was interesting when I heard the CEO of CAT mention the media had sensationalized the letter he wrote. So alot of this hype came out of the media talk heads.

I can certainly have a lot of respect for CATS CEO now even after he mentions some things he is not happy with he at least attempted to point out the facts and set the media back on a straight course.

I believe this is why the boards are important vs. the media at least we get different perspectives without one persons sole opinion.

[sunnyandcloudydays]

CAT just invested in Illinois plants this past year- I believe the spokesperson just mentioned this in response to "the letter".

I would think Illinois being CATS home has not abandoned the state. We should all be reminded that Illinois is extremely valuable to companies. It too was mentioned about attracting employees.

When you compare what Illinois has to offer CAT 1. Central location in the United states
2. access to an educated workforce 3. Land CAT needs space Illinois fortunately has access to land that has not been developed. 3. Transportation- The highway system in Illinois is virtually impossible to duplicate with major US interstates which allows access to all markets coast to coast.
4. Major cities withing a 2-3 hour drive with Airports that have International flights a. Chicago b.Indianapolis c. St. Louis. 5. Access to steel with Indiana and SE Chicago being a hotbed for steel production it is close (this has to be a factor in shipping cost) 6. access to the great lakes for shipping.

With this being the backbone of their home you could see why this state is attractive to them.
I can also see with the development overseas why they would be building and expanding where the economies are strong in china.

[sunnyandcloudydays]

would like to see letters from the city of Chicago and state of Illinois when the united merger and continental decided Chicago as their corp HQ last year not to mention Boeing and Miller- Coors

[ajolotl]

I have a relatively small company. Low taxes are attractive in principle but aren't the main issue for me. Much more important is to go where the science/engineering and software development talent is. Chicago is a relative local mecca of young, smart people. The local universities play a huge role in that (UIUC, U. Chicago, Northwestern, and IIT in particular, but also other great Big Ten schools which feed the city). I would favor investing in education and infrastructure to continue to make Chicago the kind of place that young, well educated people want to move to. If that means more taxes, then I'm all for it. Like most people a state tax hike leaves a horrible taste in my mouth because it is hard not to feel that most of the money is squandered, not because I fundamentally think more taxes are always a bad thing.

[linicx]

Chicago and Peoria have some things in common besides sprawling shorelines. Land, sea, rail and air export are at our shores. The Illinois River at 278 miles is the the longest deep channel shipping lane in Illinois. The Port of Peoria exports about $20M annually through the Port of Chicago.

Closing access to the Port of Chicago may stop the Asian Carp, but it will also stop the export of Chicago sludge. Water travel is much like a highway; traffic flows both directions.

[mdand3boys]

sunnyandcloudydays - You missed my point entirely. CAT did not mention moving PLANTS.
They mentioned moving corporate HEADQUARTERS, which they could more easily, and cheaply do, than moving plants as well out of Illinois.

[linicx]

The new CEO moved CAT off the Chicago Board of Trade. Whatever was in Chicago either was or is moving to North Carolina. If they move their global headquarters, the fat lady sang. There is very little left of the once sprawling active plants anywhere in Illinois. Instead of whining to Quinn, he should be talking to Ardis.

[sunnyandcloudydays]

Last time I looked 294 did not roll thru Dekalb, IL
This is kind of off topic but I would gladly pay the toll on 294

IL 294 is a great highway its always clean of snow and ice and its patrolled adequatley
it allows me to get inbetween points a and b hassle free.

I would have the option to take a road that is not toll funded but it is slower . I would gladly pay a small amount and travel a road that is pristine.

you do have options besides driving 294 obviously you like it too- just not the tolls
remember you get what you pay for and in this case you have a really good highway

[billybones]

Originally Posted by sunnyandcloudydays

Last time I looked 294 did not roll thru Dekalb, IL
This is kind of off topic but I would gladly pay the toll on 294

The fact that 294 doesn't roll thru DeKalb doesn't change the fact that 294 was supposed to be paid off at some point. Remember I-5? Now I-88, a toll road. I wonder when that one will be paid for? Isn't road use tax supposed to cover road repairs? Income tax hike temporary, lol!

It isn't one tax that will make an area unattractive to business. It's high business tax, fuel tax, property tax, toll systems etc. When you add it all up, I'm sure companies like Cat feel they are getting nickel and dimed.

[tomcho]

Fat Wallet leaves Illinois, 54 people are now commuting to Wisconsin and Illinois just lost 13 million in taxable revenue.

Alex Gary » FatWallet to move operations to Beloit, Wis.