Caterpillar Pours $1 Billion into North Carolina Expansion
Caterpillar Inc., one of Lee County's largest employers, is investing $1 billion to expand its manufacturing operations in Sanford. The company has already hired at least 600 workers this year and employs about 2,000 people at its existing location.
The new facility will increase production of compact track loaders and telehandlers, multipurpose machines used in construction, landscaping, agriculture, and material handling. To support the expansion, Caterpillar is evaluating the purchase of a 500-acre site off US 1, north of US 421.
North Carolina Commerce Secretary Lee Lilley stated that the investment 'is a powerful reflection of the manufacturing excellence, innovation, and opportunity that have become synonymous with North Carolina.' The project supports Caterpillar's Cat Compact strategy to create a more streamlined experience for growing businesses and small contractors.