By Gabriela Rico for Arizona Daily Star
The choice of Tucson for a Caterpillar Inc. regional headquarters was made with the intent to grow locally for the long haul, a company vice president said Wednesday.
“This is not a five-year decision. It’s a multi-generational decision,” Tom Bluth told a sold-out crowd at the annual luncheon of local economic development agency Sun Corridor Inc.
Earlier this year, Caterpillar announced it would move its Surface, Mining & Technology Division to Tucson with more than 600 executive jobs over the next five years.
Bluth said the hope is to break ground in the next six months.
Bluth predicts the mining industry will rebound in the next five to eight years, and Caterpillar’s consolidation in Tucson will help the company position itself for that recovery.
Caterpillar has a proving ground near Green Valley that opened in 1990, and the design team’s ability to see a product tested and to get feedback will improve quality, Bluth said.
Caterpillar is temporarily housed in a county-owned building at 97 E. Congress St. while the new headquarters is built. The company’s signs recently went up on the downtown building.
More than $50M in incentives were pledged to bring the company to Tucson — a package recently named “Deal of the Year” by the Arizona Association for Economic Development.
Read more at Arizona Daily Star