A Caterpillar corporate logo is pictured on a building in Peoria, Illinois, U.S. March 19, 2017.
A Caterpillar corporate logo is pictured on a building in Peoria, Illinois, U.S. March 19, 2017. Reuters / Carlo Allegri

Caterpillar Inc said on Tuesday it would move its global headquarters to Irving, Texas, from its current location in Deerfield, Illinois, marking an end to the company's century-long presence in the Land of Lincoln.

It was not immediately clear why Caterpillar was making the move. It said in an emailed statement it did not seek or receive incentives for relocation.

The construction equipment maker is the latest big manufacturer to exit Illinois. Last month, aerospace giant, Boeing announced that it would move corporate headquarters from Chicago to Arlington, Virginia.

A company spokesperson said most of its 230 employees based in Deerfield will transition to the new headquarters over time, though the company will maintain its presence in Illinois where it has more than 17,000 employees.

CAT hosted its bi-annual Investor's Day in Grapevine, Texas, last month. Currently the machinery maker's electric power division operates out of its Irving office.

Texas Governor Greg Abbott said on Twitter the state is a "perfect fit for this international brand."

Illinois Governor JB Pritzker said in a statement Illinois has built more small businesses than many of its counterparts and the state would continue to support Illinoisans working for Caterpillar.