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Durham approves incentives for Espita and Novartis that together promise about 1,300 jobs
Summary
The Durham County Board of Commissioners unanimously approved performance‑based awards for Espita Financial Services (Project Speedy) and Novartis Gene Therapies (Arrowood and Red Cedar), authorizing staff to negotiate agreements that together promise roughly 1,280 jobs and significant capital investment.
The Durham County Board of Commissioners voted unanimously Dec. 8 to approve two separate performance‑based economic development awards that county staff said will bring major job growth and private investment to the county.
In the first action, the board approved a performance award for Project Speedy, an expansion by Espita Financial Services LLC, in a not‑to‑exceed amount of $750,000. County economic development staff told the board the project will create approximately 1,000 jobs and attract about $28,750,000 in private investment over five years; payments will be funded by new tax revenue generated by the project and released only after annual verification that job, investment and community partnership targets have been met.
Sandy Ball, chief people officer for Espita,…
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