The name is synonymous with tiny fuzzy worms and massive construction equipment. Today, Caterpillar Inc., the world's largest construction company, valued at $51 billion, announced plans to move to Irving, Texas.

Caterpillar Inc. was founded nearly one hundred years ago and has been based out of Deerfield, Illinois ever since. The company is the largest manufacturer of construction equipment in the world, according to a ranking by a British construction magazine.

“We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world,” company Chairman and CEO Jim Umpleby said in a news release.

Caterpillar Inc., which makes a variety of equipment that your toddler listens to Blippi sing about including excavators, dozers, and loaders, will now be moving its world headquarters to Irving.

The Fortune 500 company has more than 100,000 employees, and has said that many will be transitioning here, but they did stop short saying just how many would make the move to the Lone Star State. You've also got to think this will mean more new jobs for Texans too.

Caterpillar is not the first big company to make to leap, according to Governor Abbott's office, as of May, Texas has 53 Fortune 500 companies headquartered here.

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