Caterpillar won't build North American plant in Illinois

Discussion in 'Economy' started by bripat9643, Feb 9, 2012.

  1. bripat9643
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    bripat9643 Diamond Member

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    Caterpillar won't build North American plant in Illinois | Comcast.net

    PEORIA -- Caterpillar Inc. will not be building its new North American plant anywhere in the state of Illinois, officials with the company told local leaders Tuesday, with part of the reason being continued concerns about the business climate in the state. The company will instead focus on a location closer to its division headquarters in Cary, N.C., Peoria County officials were told in an email sent to them shortly after the close of business and later obtained by the Journal Star. The plant stood to bring with it from Japan roughly 1,000 jobs manufacturing track-type tractors and mini hydraulic...
     
  2. geauxtohell
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    geauxtohell Choose your weapon.

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    As catapillar is HQ,d in Peioria - they can't be all down on caterpillar.
     
  3. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    It's all Bush's fault.
     
  4. blastoff
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    blastoff Undocumented Reg. User

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    Business climate in Illinois, that's certainly understandable. As is the fact that NC is a right to work state. Let's see. In Illinois a plant full of union stooges. In NC a plant with no union stooges. Decisions, decisions...
     
  5. DaGoose
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    DaGoose Gold Member

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    Uhhh.....CAT has already expanded its Illinois operations.

    Caterpillar to expand capacity for Illinois operations
     
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  6. Claudette
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    Claudette Gold Member

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    Pretty Easy decision for Cat to make really.

    I'm surprised any business still has anything located in ILL.
     
  7. bitterlyclingin
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    bitterlyclingin Silver Member

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    Illinois has a legacy. Five billion in arrears on payments to vendors is part. When Illinois went to Wall Street to peddle some bonds to pay for the state retirees penions and health care, the State's reps told the Wall Street Bankers that "Psst! Da Federal governments gonna guarantee da principle on dem dere bonds"
    If Illinois doesn't file for bankruptcy, what kind of a tax squeeze is that going to place on all of its residents and businesses when the state gets serious about righting its finances? And if it does file, the people that are owed monies by the state will just have to end up holding their hands on their posteriors and settle for cents on the dollar, Caterpillar, too. It all goes back to Charlie Rangel's and the Democrat's mantra "We have to tax more, so we can spend more."

    » Made for each other - Le·gal In·sur·rec·tion
     
  8. DaGoose
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    DaGoose Gold Member

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    Agreed. I can understand why a business would choose to employ people that allow themselves to be exploited. Heck, they'll work for less, for less benefits and they have to kneel down and open wide to get ahead.
     
  9. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    Yeah, what's union membership these days? 10% of the workforce?

    Must be a great deal!!!!
     
  10. GHook93
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    GHook93 Aristotle

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    Backdoor tax deals didn't save this one! The Gov Quinn tax increase was one of the most most devastating in US history. Gov Quinn talked about making the Corporations and rich pay their "fair share." In the end, it became the largest income tax increase on IL middle class in IL history. IL now has a top five highest income tax on the middle class in the US. This was the HIGHEST tax increase on small business in the country in a few decades!

    Did the large corps pay their fair share? NOT A CHANCE! In fact they pay less now. Whenever one started to moan and croan, Gov Quinn gave them a sweet backdoor tax break that significantly lowered, zeroed out and even gave a rebate (motorolla's case). It worked for for Caterpillar, John Deere, Novastar, SEARS etc. Who got hit with the tax? Small business: S-Corps, LLC and mom and pops. Companies without lobbiest and ones that don't make headlines when they leave.

    So what has been the effect:
    (1) The Large corps aren't leave, but aren't expanding in the IL either (in fact they are getting smaller here - Caterpillar is a prime case) and they are paying LESS to NO TAXES.

    (2) Small Business are paying higher taxes. It puts them at a competitive disadvantage to the large backdoor taxed competitors. They lose purchasing power and the FLEXIBLITY TO HIRE PEOPLE! Hence why IL has one of the highest unemployment in the country.

    (3) Exodus of small business. They dont' make headlines, but they are leaving. IN, OH, TX and WI have by far been the biggest winners. Who said Quinn can't create jobs, too bad all those jobs are be created in other states at IL expense.

    (4) NO CORPORATION even considers IL as a destination for relocation. TX and IN are on everyone's shortlist. IL isn't on anyones. I mean why would they come here. 2nd highest corporate tax in the world (with the Fed), business instability, incompetent state government inability to balance the budget. Some of the highest property and gas taxes n the country. A decreasing population as people run from the state. Unions that are out of control and have all the IL policians in their pockets. Look at any list we are right there with CA and NY as worst place to run a business in the country.

    (5) No small busines getting started: Corps are moving here and small business (that many times become large corps) aren't getting started up here. We have one of the lowest start-up rates in the entire country!

    Gov Quinn needs to go! If Blago ran against Quinn, Blago would get my vote! Heck I would vote for porky-pig over Quinn!
     
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