Chamber Celebrates Arrival of Caterpillar in Tucson

You have undoubtedly already heard the news about the decision by Caterpillar, Inc. to locate its Surface Mining and Technology Division to Tucson.  However, the importance of this decision is worthy of continued celebration on several fronts.

THE PROCESS
Congratulations to the principal parties who made this decision possible.  First, we must congratulate Caterpillar officials for their diligence in making the best possible choice.  Tucson was not the only city under consideration for this important step.  Our regional assets had to compete with the assets of other areas.  In the end, Southern Arizona had the most to offer.

Kudos must also go out to Pima County, the City of Tucson, Sun Corridor, Inc., the Arizona Commerce Authority and the Rio Nuevo Multipurpose Facilities District for their teamwork and collaboration.  The award by Caterpillar is yet another example of public and private sectors working together for long term economic expansion of our region.

THE IMPACT

• Construction of a Fortune 100 headquarters building in downtown Tucson
• 600 new jobs, many of them high-compensation technical, scientific and engineering in nature
• Total economic impact of $600 million in the first five years
• New opportunities for local companies to serve and supply Caterpillar

There is one more aspect to Caterpillar’s decision that, while somewhat intangible, may be one of the most valuable outcomes of the relocation decision.  I call it “badge value”.  Badge value is the impact that Caterpillar’s divisional headquarters will bring to our local brand as a region and as a community.  There will be coat tail effects as other companies consider following Caterpillar’s lead.  More good things could be right around the corner for all of us.

So let’s get ready to welcome 600 families to our beautiful community that is filled with sunshine and good neighbors.

Welcome, Caterpillar.  We’re glad you’re here!

Sincerely,

Mike Varney
President & CEO