Caterpillar announced Friday the company will add about 160 jobs to its existing Pontiac plant. The jobs in Livingston County are the result of company-wide restructuring.

The Peoria-based manufacturer also announced the loss of at least 120 jobs from its East Peoria facilities. Overall, the changes, which include five plant closings, will result in a net loss of about 670 jobs.

Pontiac City Administrator Bob Karls said "We're pleased that Caterpillar had confidence in the Pontiac plant, its employees and our community."

The new jobs in Pontiac, expected to be added within 18 months, will come after the company consolidates engine component manufacturing from facilities in Santa Fe, N.M., and Thomasville, GA.

The announcement came after Livingston County taxing bodies agreed to an economic incentive agreement with Caterpillar. The agreement says taxing bodies would abate property taxes of the Pontiac plant as incentive for the plant to stay in the county.

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