SANFORD – Caterpillar plans to invest approximately $1 billion in North Carolina, including a new manufacturing facility in Sanford that will expand production of compact track loaders and telehandlers.
The public company announced the plan Sept. 30 as an expansion of manufacturing capacity for its Cat Compact business. Caterpillar said rising demand for compact equipment is driving the investment.
The planned Sanford facility is expected to use advanced manufacturing technology, automation, digital production systems and integrated logistics. Caterpillar said it expects the project to create advanced-manufacturing career opportunities and help workers build skills in automation, robotics and digital production.
Caterpillar did not disclose a firm job count, construction schedule, completion date, building size or state incentive award in the announcement. The company described the project as an intended investment, so the capital spending and new facility remain forward-looking.
Compact track loaders and telehandlers are used in construction, landscaping, agriculture and material handling. Caterpillar said the added capacity is intended to help customers obtain the machines more quickly as demand grows.
Reuters independently reported the $1 billion North Carolina investment and the planned Sanford facility. The news service also reported that Caterpillar has seen stronger construction-equipment orders in recent quarters as data-center construction and related backup-power demand have increased.
Caterpillar said it selected North Carolina because of its existing presence, the local workforce and the manufacturing expertise already established in Sanford. The company thanked the state, Lee County and the City of Sanford for their support, but the announcement did not specify the value or structure of any public incentives.
The measurable North Carolina consequence is a roughly $1 billion manufacturing plan that would add production capacity and advanced industrial work in Lee County. The announcement does not establish how many jobs will be created or when the new plant will begin operating.