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Preheat oven to 375 degrees. Line a cookie sheet with parchment paper, and set aside.
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In a large bowl, cream together butter and sugars until light and creamy. Add in molasses, vanilla extract, and egg, and continue beating until thoroughly mixed. Set aside.
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In a separate bowl, combine the remaining ingredients and mix well. Slowly add the dry ingredients to the wet ingredients, 1/2 cup at a time, beating well after each addition, until fully incorporated.
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Drop cookies in 1 tbsp spoonfuls, onto cookie sheets, leaving 1.5″ between each ball of dough. Bake for 7-9 minutes, until cookies are lightly golden brown. Allow to cool.