Caterpillar Pumps $1 Billion into North Carolina Expansion

Caterpillar, a nearly $70 billion heavy equipment maker, plans to invest $1 billion in its North Carolina operations. The expansion will reportedly double down on the company's local growth plans.

The investment is part of Caterpillar's efforts to increase production and hire more workers at its existing plant in the state. As per reports, the company will create 600 new jobs as a result of this expansion.