An Illinois State University Business Professor said it's important to keep some perspective about Caterpillar's announcement it is moving it's headquarters to the Chicago area.
Victor Devinatz studies labor and management relations. He said it's 100 executive jobs and 300 jobs overall.
"I think one thing the community shouldn't do is panic and said the move indicates the company wants to move the entire company out of Peoria. That's not the case," said Devinatz.
Devinatz said there could be some effects on non profit organizations as high salaried workers take their dollars out of town.
"I think philanthropy that could certainly be some kind of effect. But, I don't think this is going to be a serious blow in terms of Peoria," said Devinatz.
With 12,000 other workers in Peoria, Devinatz says it does not appear that Caterpillar wants to get out of Peoria entirely, or is even beginning a phase-out.
