Quick Look At Texas Enterprise Fund Companies

___

WASHINGTON MUTUAL

Washington Mutual, a Seattle-based bank, became the largest bank to fail in U.S. history when it was seized by federal regulators in September and taken over by New York-based JPMorgan Chase & Co.

Washington Mutual struck a deal with the Texas Enterprise Fund in 2005 to receive $15 million in taxpayer money in exchange for creating 4,200 new jobs by 2011.

Last year, it was 192 jobs short of its yearly goal. It had created 2,208 jobs by the end of the year; its target was 2,400 jobs. Like Countrywide, Washington Mutual can continue meeting its contract terms by applying credits from previous years of adding more jobs than required. WaMu may be forced to pay the state back $850 per job if it doesn't create enough.