Caterpillar (CAT), the world's largest manufacturer of construction and mining equipment, has announced plans to move production of its line of compact machines from Japan to the US. The move will allow the company to fill the demand in North American and the EMEA region, reports ConstructionWeek.

Additionally, Caterpillar will be moving the assembly of its large excavators from Akashi, Japan to a new facility in Victoria, TX that will be completed in 2012. The new plant will likely create about 1,000 new jobs.

The company also announced that it will spend $640 million to upgrade existing facilities in both Decatur and East Peoria, IL, leading to the creation of about 300 new jobs.

Though Caterpillar still manufactures a great deal of machinery overseas, we’re glad to see that this iconic American company is investing in and expanding its U.S. facilities. It’s always encouraging to see a company building equipment in America that (literally) helps build the economy from the ground up.

Click here to read more.