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Durham County approves performance awards for two private projects promising jobs and investment
Summary
The Board approved a $170,000 performance-based award for Project High Power (IONNA) and a $930,000 award for Project Foundry (Science Foundry), citing projected job creation of 203 and 54 positions and multi-million-dollar investments over five years; commissioners unanimously authorized the County Manager to negotiate agreements.
The Durham County Board of Commissioners on July 8 unanimously approved two performance-based economic-incentive awards aimed at encouraging private investment and job creation.
The Board approved a $170,000 performance-based award to support 'Project High Power,' identified as IONNA’s new premium office headquarters. Economic Development Manager Matthew Filter said the project would create 203 jobs over five years and represent an estimated $10,050,000 in private investment. Derek Rush, identified as IONNA’s chief financial officer, joined the meeting to answer questions about job types; officials described the roles as largely white-collar positions with some test-lab and engineer roles. Filter said the jobs would pay, on average, about $100,000.
The Board also approved a $930,000 performance-based award for 'Project Foundry,' a manufacturing initiative associated with Science Foundry. Filter told commissioners the project would create 54 jobs and invest $65,157,320 over five years. Kara Zappitelli and John Beckman of Science Foundry answered questions about the company’s visual-prosthesis and brain–computer interface work and noted the company had applied for CHIPS and Science Act funding and was awaiting a response.
Both actions were approved unanimously; Vice Chair Nimasheena Burns moved to approve the IONNA award (seconded by Commissioner Heidi Carter), and Burns moved (seconded by Commissioner Wendy Jacobs) to approve the Science Foundry award. In both cases the Board authorized the County Manager to negotiate and execute the performance agreements.
What happens next: County staff will negotiate and finalize performance agreements with the companies that will set benchmarks, timelines and payment conditions tied to job creation and investment.
