AEDC Jobs Pushed Back - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

AEDC Jobs Pushed Back

A company that made a lot of promises to the city in exchange for some big money is having a hard time living up to its part of the bargain.

In 2006 the amarillo Economic Development Committee gave GTM manufacturing more than two million dollars on the promise of creating 200 new area jobs.

Now GTM says they might not meet the number in time.

The Amarillo City Commission gave GTM manufacturing a reprieve on Tuesday, allowing the company another year to bring in the jobs or pay back part of the money.

GTM makes a specialized gas transport container and says they need the extra time because of the weak economy and slower than expected product development.

The president of the AEDC defends the extension -- saying these jobs are worth waiting for

"it's the kind of jobs that we want to attract to this community because they are skilled jobs. They are manufacturing a product that will have world wide appeal. And because of that it's exactly what we're looking for in this community," Buzz David said.

As it stands now, GTM will have until 2012 to meet the job quota.

If they can't do it, a large portion of the grant given to them will turn into a loan that must be paid back to the city.

The city commission also approved a 50 thousand dollar AEDC grant to texas tech.

That money will go towards a research project on wind farming.

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