The Georgetown Economic Development Corp. board of directors approved a modification Dec. 16 to its performance agreement with Molecular Templates Inc.
"At our [November] meeting, GEDCO took action on approving a $69,000 grant," Georgetown Economic Development Director Mark Thomas said. "There has been a change. The company didn't understand that [the performance agreement] meant [creating full-time] jobs in Georgetown, not systemwide."
Molecular Templates has 10 full-time employees as well as contract and temporary workers throughout the year at locations in Georgetown and elsewhere, Thomas said. The total number of company employees changes throughout the year, and the company wanted to make sure it complied with the agreement presented to it, Thomas said.
"They still need the $69,000 grant. What's changed is the value per job," Thomas said.
