Peoria-Based Caterpillar Meets With Gov. Quinn; Plans to Stay in Illinois

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Caterpillar CEO Doug Oberhelman says his company is staying in Illinois. He says he was just trying to start a dialogue when he wrote a letter to Gov. Pat Quinn about other states’ efforts to lure his company out of Illinois.

Doug Oberhelman, CEO of heavy equipment manufacturer Caterpillar Inc. said Tuesday the company intends to stay in Illinois while working with Governor Pat Quinn to improve the state’s business climate.

The Peoria-based company has more than 23,000 employees in Illinois.

Oberhelman had recently sent a letter to Quinn to inform him that other states were trying to lure his company from Illinois. The increases in the business income tax rate and individual income tax have been described as an unfriendly business climate.