Bechtel Power Corp. will maintain the companyâ¿¿s operations and 1,250 jobs in Frederick, Md., through at least 2018, the result of a $9.5 million conditional loan from Marylandâ¿¿s Sunny Day economic development fund, state officials have announced. The deal, approved by Marylandâ¿¿s Legislative Policy Committee, may mean that Bechtelâ¿¿s scouring of Northern Virginiaâ¿¿s office space is over. It also may not, as Bechtel has 2,000 workers in Frederick and has promised to keep only 1,250 there. â¿¿Our most important priority continues to be creating and retaining jobs â¿¿ the kinds of high-wage, highly-skilled jobs that will sustain Marylandâ¿¿s economy for today and for decades to come,â¿ Gov. Martin Oâ¿¿Malley, a Democrat, said in a news release. â¿¿Working with Bechtelâ¿¿s leadership to retain their operations here, we are preserving 1,250 jobs and ensuring that this innovative company continues to call Maryland home.â¿ Calls to O'Malley's office were referred to the state's Department of Business and Economic Development. According to a DBED memo, Bechtel has agreed to pay their 1,250 full-time employees at least 150 percent the federal minimum wage. The average salary for the power division is $125,000. The conditional loan is in two parts. The first $2 million will mature on March 31, 2019. If Bechtel fails to meet the 1,250 employment mark, it will owe the state $1,600 plus accrued interest for each position it falls shy. The remaining $7.5 million will be disbursed over the next seven years, at roughly $1.1 million annually. That loan will be reduced by $857 for each employee short of the 1,250 employment target. Bechtel also will have to repay the state, during the retention period, $857 plus interest for each employee short of 1,250.