Now that Caterpillar (NYSE:CAT) has narrowed its search for its new component manufacturing facility to three areas: Winston-Salem, North Carolina; Montgomery, Alabama; and Spartanburg, South Carolina, they are taking the next step in seeking local incentives to see who will give them the best deal.
It has to be assumed the three locations are considered pretty much equal, so Caterpillar will obviously use that as a bidding incentive for those localities to see which one will get their business.
North Carolina has already received initial requests from Caterpillar for $7 million in local tax incentives.
“They’re asking for pretty big incentives,” Forsyth County Commissioner chairperson Dave Plyler. “$3.5 million from us, the county, and $3.5 million from the city. What they do with it is up to them.”
The new plant will hire approximately 500 workers.
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