Caterpillar Drops Paragon Project Name, Unveils $1 Billion Sanford Manufacturing Plan
Caterpillar Inc., a leading heavy equipment manufacturer, has announced plans to invest approximately $1 billion in a new Sanford manufacturing facility. The project, previously code-named Project Paragon, aims to create over 1,950 jobs with an average annual wage of at least $65,528.
The new facility will expand manufacturing capacity for Caterpillar's growing Cat Compact business and increase production of compact track loaders and telehandlers. These machines are used in various industries such as construction, landscaping, agriculture, and material handling.
Caterpillar said the plant will be a modern, technology-enabled manufacturing operation incorporating advanced manufacturing technologies, automation, digital production systems, and integrated logistics.
The company chose North Carolina due to its existing presence in the state, the strength of the local workforce, and the opportunity to build on its manufacturing expertise and operations in Sanford.