IIB - Construction equipment manufacturer Caterpillar Inc. is looking to make another major investment in its Large Engine Center in Lafayette, according to documents filed this month with the Lafayette Redevelopment Commission.

The company, headquartered in Fort Worth, Texas, plans to invest $890 million to modernize operations and add new manufacturing equipment at the plant, which employs just under 2,000 people.

The redevelopment commission is set to consider two, 10-year tax abatement proposals for the project at its meeting on Thursday.

According to the documents filed on Aug. 19, Caterpillar will invest $540 million in the new machinery and equipment, which would be installed beginning in 2027 with estimated completion in 2030. The remaining $350 million would be used for facility renovations and enhancements.

In its description of the project, first reported by Based in Lafayette, Caterpillar said the reinvestment in the facility at 3701 South St. would modernize operations, improve manufacturing efficiency and enhance long-term production capabilities.

“This investment, combined with the retention of 1,995 employees, will help secure the facility’s long-term future, sustain a significant source of local payroll and tax revenue, and strengthen the community’s position as a premier manufacturing hub,” the company said. “Property tax abatement support would improve the project’s financial feasibility and help ensure Lafayette remains competitive for this substantial capital investment.”

The company said the project would not result in any new jobs in Lafayette. A spokesperson for Caterpillar could not immediately be reached for comment on the proposed investment Tuesday evening.

The Lafayette Redevelopment Commission will take up the proposals on Thursday at 11 a.m.

The proposed investment comes just two years after Caterpillar announced plans for a $725 million expansion in Lafayette that would add 300,000 square feet of space and 100 jobs. The company said at the time that the addition would be completed by the end of 2026.

Caterpillar also continues to invest in central Indiana. Last year, the company announced a $60 million expansion of its logistics facility in Lebanon that could bring 700 jobs to the city. Just a few months later, Caterpillar said it would open a motor prototyping facility at the former BorgWarner building in Noblesville.