The Georgetown Economic Development Corp. approved a $67,500 performance agreement with Tasus Texas Corp. at its Feb. 17 meeting.

Tasus, a supplier of molded plastic components, is planning the second phase of an expansion to its Georgetown manufacturing section, Georgetown Economic Development Director Mark Thomassaid.

Their building was built in halves, Thomas said. The left half is manufacturing and the right is storage. What Tasus is doing now is putting very valuable taxable manufacturing equipment in the second side.

According to the agreement, Tasus must create45 new jobs during the next three years as well as retain its current 155 full-time positions.

Thomas said infrastructure improvements for the expansion are expected to cost Tasus about$760,000.Tasus is also planning to spend $45,000 to increase electrical capacity to the facility and invest $5.3 million over the next three years on new production equipment.

TasusGeneral Manager Walt Barkalow, who also serves on the GEDCO board, recused himself from the dais for the discussion and vote on the agreement.