AUSTIN (September 1, 2010)--A plastics compounding company that’s operating in East Texas has canceled its state job creation contract.

Alloy Polymers Inc. is joining other firms that have quit canceled or modified their contracts pacts under Gov. Rick Perry's Texas Enterprise Fund since the recession hit.

Perry’s spokeswoman Lucy Nashed says Alloy Polymers canceled its enterprise fund contract on July 9 citing "business reasons."

She said the company paid back with interest the $100,000 in taxpayer money it received under the $200,000 agreement.

A governor's office list of enterprise fund grant recipients states Alloy Poymers was to have created 52 new jobs as part of the 2006 agreement.