Holt Cat, a Caterpillar equipment sales, rental, parts and service dealer, broke ground Jan. 30 on a regional Caterpillar facility at 2101 Airport Road near the intersection of Lakeway Drive and I-35.
The 85,000-square-foot facility is expected to open by summer 2019 and create 130 new jobs with a net benefit to the City of more than $16 million over 10 years.
City Council approved an economic development agreement with the construction equipment company in December that included a rebate of up to $2 million in sales taxes generated by the company over five years if the company meets its expectations. The council also approved a $185,000 Georgetown Economic Development Corp. grant to connect a future wastewater line extension. The line will be able to serve adjacent commercial properties when they develop.
“City council’s vision for Georgetown is ‘a caring community, honoring our past and innovating for the future.’ Businesses like Holt Cat are part of that future,” Mayor Dale Ross said. “Holt’s corporate culture and history of community partnership are a perfect match with Georgetown. We are committed to growing a strong and sustainable commercial corridor, and Holt Cat is a wonderful addition to our business community.”
Before it opens, the company expects to spend a minimum of $20 million in infrastructure and improvements. According to the agreement, the company is expected to have a minimum of $35 million in sales per year starting in the second year of operations through year six.
“Georgetown is one of the fastest-growing cities, not just in Texas, but in the U.S. Investments in construction and infrastructure are driving demand for heavy equipment and services, and with this new location, we can better serve our customers in this region,” said Peter J. Holt, Holt Cat CEO and general manager.
The location will be the company’s largest retail location built in more than 30 years and will be a state-of-the-art facility, said Tony Shedrock, Holt Cat vice president of general services.
Holt Cat expects to hire specialized heavy-equipment mechanics as well as administrative, sales, and marketing positions with an average salary of $48,500.
The San Antonio-based company sells, rents and services Caterpillar machines, engines, generator sets and trucks throughout a 118-county region including South, Central, North, and Northeast Texas.