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County approves up to $750,000 performance award for Espita's Durham headquarters
Summary
Durham commissioners approved a performance-based incentive of up to $750,000 for Espita Financial Services’ Project Speedy, which staff said will create approximately 1,000 jobs and $28.75 million in investment over five years; the award is payable only after annual verification of job and investment targets.
The Durham Board of County Commissioners voted unanimously Dec. 8 to approve a performance-based award for Project Speedy, Espita Financial Services’ proposed Durham headquarters, not to exceed $750,000 and contingent on annual verification of job creation and capital investment.
Matthew (Matt) Filter, Durham County economic development manager, said the award is funded from new tax revenue that the project is expected to generate and will be paid only after the company meets agreed performance targets. He told commissioners the project would create approximately 1,000 jobs and a $28,750,000 capital investment over a five‑year period. "The performance based award will be funded by new tax revenue generated by project speedy," he said.
Sandy Ball, Espita’s chief people officer, described the company’s local ties and recruiting focus, noting the firm already employs local staff and partners with schools and colleges on early‑career recruiting. Darian Harris, director of career and technical education for Durham Public Schools, voiced support and highlighted internship and CTE commitments. Commissioners praised the workforce ties and voted to authorize the county manager to negotiate and execute the performance agreement.
