DisperSol Technologies, a pharmaceutical development company based at the Texas Life-sciences Collaboration Center, will receive $5,000 for every job it creates in the next five years up to $250,000, according to a performance agreement approved by City Council on Sept. 23.

If no jobs are created, they dont get any funding, Georgetown Economic Development Director Mark Thomas said. This truly is a performance agreement.

The company recently signed a five-year lease agreement for 10,000 square feet of space in TLCCs second building to expand its operations, Thomas said. The company will also keep its space in TLCCs first building.