Caterpillar has announced a $640-million capital investment in Central Illinois, including $340-million in East Peoria.
Spokesman Jim Dugan says the $340-million will go to upgrade the equipment used to make track type tractors in East Peoria. The Decatur plant where large mining trucks are produced is getting $300-million in capital investments.
Dugan says it is believed this will also create over 300 jobs at the two facilities. He says this investment helps Caterpillar meet demand long-term and also boosts the economy through job growth.
80-percent of the tractors and over 90-percent of the trucks are exported and Caterpillar sees the demand for those products on the rise in the coming years.
President and CEO Doug Oberhelman says the investment will double the large tract type tractor production capabilities in East Peoria. Caterpillar officials also announced plans to open a new mining truck facility in Indonesia.
