Time Clock Plus Returns $326,000 to Economic Development Corporation
SAN ANGELO, TX -- Time Clock Plus on Tuesday returned $326,000 in economic development funds to the City of San Angelo Economic Development Corporation as city council members approved a termination and release of performance agreement.
According to Economic Development Director Roland Pena, Time Clock Plus wanted to return the funds and terminate the agreement. The Termination and Release Agreement provides mutual release for Data Management Inc., dba Time Clock Plus and COSADC from any further obligations of the original Economic Development Performance Agreement.
The Development Corporation and Time Clock Plus entered into an agreement on August 31, 2015 and the city paid $326,000 in economic incentives to Time Clock Plus last year.
In a letter dated January 18, 2018, Time Clock Plus Chief Operating Officer Ernie Nabors wrote, “Our leadership staff determined that the funds would better benefit other organizations in the San Angelo community that have a greater need for assistance. We are appreciative that the Development Corporation made those funds available to us and for all of the work City personnel performed to draft the agreement and to get it approved. We look forward to a strong relationship with the City and continued growth within the San Angelo Community.”
As we reported earlier, Time Clock Plus is a software company that creates time and attendance applications for small/mid-sized businesses, enterprise, and government entities. Their applications allow management to track employee time worked and integrate that data into human resources and accounting systems. The company, now celebrating its 30th year in business, is headquartered in San Angelo at 2905 Southwest Blvd.
Nabors was named President of Time Clock Plus in February. Jorge Ellis is CEO.