The crime-ridden Chicago just lost a major company, it is the latest move of the big companies turning away from the Democrat-controlled state for Republican Texas.

On Tuesday, construction vehicle company Caterpillar announced that it is moving its corporate headquarters to its existing office in Irving, Texas, near Dallas.

The company had been based in Peoria, Illinois, for over 90 years before announcing a move to Deerfield in 2017.

Chicago lost 1.6% of its population in the year ending July 2021, likely in part due to rising crime rates that have reportedly forced some wealthy residents to hire private police.

More details from Marketwatch reports:

Caterpillar to move headquarters to Texas from Illinois in fresh blow to the Chicago area

Caterpillar Inc. said Tuesday it will move its global headquarters from Illinois to an existing divisional office in Irving, Texas, in the Dallas–Forth Worth area, in another blow to metropolitan Chicago, which last month lost the Boeing Co. headquarters.

The move is “in the best strategic interest of the company,” Chief Executive Jim Umpleby said in a statement. The heavy-machinery maker has had a presence in Texas since the 1960s, it said.

Even with the move, Illinois has the largest concentration of Caterpillar CAT, -0.09% employees anywhere in the world, the company said. The headquarters was historically in downstate Peoria, Ill., before a move to the Chicago suburb of Deerfield in 2017.

Boeing BA, +5.44% in May said it was moving its global headquarters to Arlington, Va., outside Washington, D.C., promising to keep a “significant presence” in downtown Chicago, where it moved in 2001 from Seattle.

Caterpillar said it would begin the relocation this year, without proving further details.

Of course, Texas Governor Greg Abbott is pretty happy about it.

It is also the latest major corporation to ditch the Chicago area after Boeing Co. said last month that it was moving its headquarters to Arlington, Virginia.

We are witnessing an economic realignment in America.

Sources: TheGatewayPundit, Marketwatch

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