Texas Comptroller Glenn Hegar visited San Antonio last week as part of his Good for Texas Tour to highlight women in the Texas workforce and their impact on the Texas economy. Hegar is celebrating the work of Corinna Holt Richter, president, and chief administrative officer of HOLT CAT, a Caterpillar heavy equipment and engine dealer.
Richter and her brother, HOLT CAT Chief Executive Officer and General Manager Peter John Holt, took over ownership of the company earlier this year and are fifth-generation descendants of Benjamin Holt, who in 1904 developed the first successful track-type tractor which he named the “Caterpillar.”
“HOLT CAT is one of about 940,000 women-owned businesses in Texas, and the number of these businesses is up by 146 percent over the last 20 years,” Hegar said. “Texas’ women-owned businesses employed an additional 808,200 workers and generated about $134.2 million in sales in 2017.”
During his Good for Texas Tour: Women in the Workforce Edition, Hegar is sharing the results of a study the Comptroller’s office recently completed examining the impact of women on the Texas economy. He is touring facilities and meeting some of the exemplary women who hold leadership roles in all sectors of Texas’ economy.
Richter, who joined HOLT in 2011, previously was general parts manager and senior vice president of product support sales. As president, she’s committed to maintaining HOLT CAT’s values-based leadership principles and corporate mission. Richter earned a Bachelor of Arts degree from Vanderbilt University and participated in an extensive executive business training program at New York University.
“HOLT CAT has always been committed to being dynamic and innovative,” Richter said. “To do that, we need to have diverse voices that bring new perspectives and fresh insights to our operations. I feel a tremendous responsibility to carry on that legacy and maintain that inclusive culture as we grow as a company.”
HOLT CAT is part of the trade, transportation and utility industry, which contributed $317.3 billion to the state economy. Texas women account for 40 percent of the jobs in this industry, at 985,000.
“The focus of this tour is to highlight the profound impact Texas women have on the health of the state economy,” Hegar added. “I hope it also will emphasize the need to ensure women have equal access to advancement in the workplace.”
In all, nearly 6 million women held jobs in Texas in 2017. Further efforts are needed to eliminate barriers to women’s entrepreneurship and access to top-level positions. Several of the most women-dominated occupations in Texas — personal care and service, healthcare support and office and administrative support — are among the lowest-paid in the state.
And even in higher-paying occupations, such as healthcare and technology, the share of women employed in the highest-paying jobs is significantly smaller than that of men.