Company growth depends on a healthy economy, which is made possible by embracing immigrants, Caterpillar CEO Douglas Oberhelman said Wednesday.
As a growing economy boosts infrastructure, Caterpillar grows. "If you take a road, a pipeline, a bridge, whatever it is, we employ people in our factories to make that equipment. That's what makes us go. We add jobs and we grow that way. And that's a big piece of how we get out of this and raise our economic growth," he said on "Squawk Box."
Speaking from the Business Roundtable summit, Oberhelman also told CNBC that Caterpillar will "get a little healthier next year" but it depends on how well the economy will do. "We have a high correlation of 3 percent growth and job creation. Very simple. Almost in any economy in the world, when we see 3 percent GDP growth, we are adding jobs." If the economy does not grow, the company will be flat and "we've been flat for the last two years in a row."