TUCSON, Arizona -- Sundt Construction has announced the go-ahead to start construction on the new Caterpillar’s Surface Mining & Technologies (CSM&T) division headquarters in Arizona for Caterpillar Inc. (NYSE: CAT). Tucson-based, Sundt Construction the contractor, announced Wednesday of getting the go-ahead to start on the new $43 million division headquarters in Arizona for Caterpillar Inc.
Caterpillar is one of the 30 stocks on the Dow Jones Industrial Average. Along with other blue-chip Dow companies with big Arizona footprints including UnitedHealth Group (NYSE: UNH), Intel Corp. (Nasdaq: INTC), American Express (NYSE: AXP), Apple Inc. (Nasdaq: AAPL) and
The much anticipated, Caterpillar’s Surface Mining & Technologies (CSM&T) division headquarters is to be based at the base of A Mountain just west of Interstate 10, is slated to bring 600 jobs to Arizona via the headquarters development. The Rio Nuevo Board — which oversees a voter-approved development district to bring jobs and investments to Tucson — authorized finalization of a lease deal with Caterpillar that asked for a contingency for Rio Nuevo to set up the City’s GPLET approval.
Not anticipating any problems, the Rio Nuevo board approved actions this week to allow Sundt to move forward with the Caterpillar headquarters. The Rio Nuevo group has paid $7 million to acquire the title to the property where the CSM&T base is going and is spending $4.8 million to clean up a landfill on the construction site. Sundt is based in Tucson and has an office in Tempe.
Caterpillar’s stock closed at $104.71 in Wednesday action. The machinery, tractor, construction and mining equipment manufacturer’s stock is up 13 percent so far this year, according to Google Finance.