Globitech Misses Tax Deadline

1-7-04 - Globitech is experiencing more financial problems – once again unable to pay all of its local property taxes. The technology company couldn't pay their remaining 2002 property taxes by the arranged deadline of December 31st. Instead they paid half - $85,000. But the Grayson County tax collector says his office is working with Globitech. They’ll allow a 30 day period for Globitech to finish making patments. Globitech has had a tough past year. First they ran into property tax trouble and then defaulted on a performance agreement with the Sherman Economic Development Corporation. It would have earned them $2.5 million but now they’ll have to pay back SEDCO $600,000. But Globitech’s manager says the market looks promising for this year. The company employs 70 workers.