Caterpillar, heavy equipment--Caterpillar expands America plant

A North Carolina factory that makes some of Caterpillar Inc.'s smallest machines will expand operations, adding 325 jobs within four years.

North Carolina on Thursday offered the Peoria, Ill.-based heavy-equipment manufacturer up to $4 million in tax refunds and grants to expand its Sanford factory. The Caterpillar plant builds tight-turning skid loaders widely used in landscaping and construction.

In June, Lee County commissioners offered $900,000 in upfront spending for the corporate giant's $25 million expansion.

Last week, Caterpillar said it would build a new factory in Winston-Salem producing axle units for large mining equipment. City, county and state governments promised about $40 million to spur employment for about 500 full-time and contract workers.

Source: Bloomberg