GEORGETOWN, Texas (KXAN) -- The city of Georgetown is expecting an influx of $13 million over 10 years and 129 new jobs when the largest Holt Cat retail location in the past 30 years hits the area.
Holt Cat, a Caterpillar equipment dealer, will build their new 60,000-square-foot facility at 2101 Airport Road near the intersection of Lakeway Drive and I-35. The project is expected to be completed by the end of 2018.
Georgetown City Council approved the agreement at the January 24 meeting. The city agreed to rebate $1.5 million in taxes if the company meets expectations in five years. Incentives and moving quickly, is helping Georgetown bring more business to the area. "Work them in a very fast way too. So for instance this Holt Cat project, we worked in fourth months, from getting all the property easements and the utility needs, even the incentive deal itself," explains Michaela Dollar, director of Georgetown Economic Development.
The city will also offer Holt Cat Infrastructure reimbursements, including a wastewater line along I-35. The improvements will also allow for future commercial developments.
Holt Cat expects to hire specialized heavy-equipment mechanics as well as administrative, sales and marketing positions with an average salary of $48,500.