Caterpillar, one of largest manufacturers of construction and mining equipment in the world, announced recently that it will create 500 new jobs in Victoria, Texas.
The company plans to construct a new manufacturing facility to build hydraulic excavators. The proposed 600,000-square-foot plant, which could cost $150 million, could be open by summer of 2012, according to Caterpillar officials.
Once fully operational the plant will have 500 workers. The decision to increase manufacturing capacity and employment in the U.S. is part of Caterpillar’s long-term strategic initiative to develop the appropriate global footprint to competitively produce hydraulic excavators, according to company execs.
“Victoria is proud to play a role in Caterpillar’s plans to expand its hydraulic excavator manufacturing in the United States, while at the same time Caterpillar will be an important part of the work to reinvent Victoria,” Victoria Mayor Will Armstrong said.
“Texas is the best place in the nation to grow your business, and nobody knows that better than the companies that are already here in the Lone Star State,” Texas Governor Rick Perry said. “This Texas Enterprise Fund investment in Caterpillar will help create good jobs to Texans, and this expansion is proof that our combination of low taxes, reasonable regulations, fair legal system and world-class workforce is working to attract and retain the best employers in the world.”
Caterpillar vice president Gary Stampanato said Victoria's proximity to the company's supply base, access to ports, other transportation and positive business climate made it an ideal site for the project.
Read more about economic development in Victoria, TX.