Much like the bulldozers and tractors it builds, Caterpillar’s presence in Peoria, Ill., is big. The company’s corporate headquarters and facilities in the area employ more than 16,000 people, a sizable chunk of the local manufacturing employment base. Requiring a vast supplier network, economic development experts estimate that Caterpillar is the primary customer of 40 percent of local businesses. But as the company expands globally, many have feared its days in Peoria are numbered. Losing that many jobs would deal a devastating blow to the local economy, one the mid-sized city would find far more difficult to recover from than larger jurisdictions. Fortunately, Caterpillar has signaled that it may stay in Peoria for the long haul, announcing last year initial plans to upgrade its existing headquarters in the city. “For them to announce they’re going to maintain their presence in Peoria, you can’t put a number on that,” says Mayor Jim Ardis. “I can’t think of a (Peoria) business that isn’t touched or impacted by Cat on a daily basis.”
To read the original article: How Smaller Cities Hold onto Major Employers
