Denton City Council members have approved economic development agreements with two tech companies expected to create nearly 200 jobs with payrolls of over $10.4 million.
That decision came during a council meeting Tuesday.
One of the companies — TeamofDefenders — was awarded $106,500 in job-based grants. The average annual salary for employees is $70,607. The other — From The Future — was awarded $243,500 in job-based grants. That company’s average annual salary is $67,700.
Both companies were started in Denton. From The Future specializes in virtual reality training. TeamofDefenders is an Internet of Things platform company that supports the Denton tech industry by hiring employees locally and acting as angel investors to other startups.
From The Future plans to create 138 jobs, at a payroll of $10.15 million. For TeamofDefenders, the plan is to create 54 jobs, with a payroll of $3.95 million.