Holt Caterpillar to open near I-35 in Georgetown by end of 2018
An economic development package between the city of Georgetown and Holt Texas Ltd. was unanimously approved at the Jan. 24 Georgetown City Council meeting.
The private, family-owned company is planning to construct a minimum 60,000-square-foot retail center at 2101 Airport Road north of the intersection of Lakeway Drive and I-35.
Holt Caterpillar plans to create 129 jobs over the next 10 years and contribute more than $13 million in net value to the city with the construction of the new
The facility is expected to be built by the end of 2018, and Holt Cat plans to invest a minimum of $20 million in infrastructure and improvements as well. The company also expects to generate a minimum of $27.5 million in sales per year for the first five full calendar years of operation, according to city officials.
The economic agreement also states if Holt Cat meets the agreed upon expectations, the city will rebate up to $1.5 million in sales tax revenue generated by the company over five years.
Georgetown City Manager David Morgan said Holt Cat approached the city in September, and development plans were underway by October. Morgan said the retail center made sense for Georgetown.
“We recognized the benefit [the project] would have on that part of town [as well as] the tax base and jobs [Holt Cat] would be bringing,” Morgan said.
The council is moving forward with infrastructure improvement plans, including the expansion of Airport Road and the extension of a wastewater line along I-35 that will allow for future commercial development.
Council also approved a $185,000 grant from the Georgetown Economic Development Corp. to connect Holt to the wastewater line extension.
“This facility will bring investment and jobs to a previously undeveloped area and initiate additional growth around it,” Mayor Dale Ross said. “This economic development agreement is another excellent example of what can get done when city departments work together.”
Morgan said the continued growth in Georgetown and the soon-to-be updated infrastructure are helping to bring a lot of interest to the area of town where the facility will be located.
While no other plans have currently been announced, Morgan said the city continues to plan for future growth.
“We anticipate having more industrial-type businesses that would be interested [in the area] given its relation to I-35 and SH 130,” Morgan said. “But we also recognize the need for retail, probably closer to the corner of Lakeway Boulevard and I-35.”
Holt Cat said it expects to hire specialized heavy-equipment mechanics as well as administrative, sales and marketing positions with an average salary of $48,500.
At the late January City Council meeting, Tony Shedrock, Holt Cat’s vice president of general services, said the Georgetown location is the company’s largest in 30 years.
“Recognizing the growing need to support our customers and employees along the I-35 corridor, our new location in Georgetown will provide a great work environment and a substantial positive economic impact for Georgetown,” Shedrock said.
The San Antonio-based company sells, rents and services Caterpillar Inc. machines, engines, generator sets and trucks throughout a 118-county region in Texas.
Source: Community Impact Newspaper, Cody McCrary