Item:
Title
Public Hearing to Consider a Performance-Based Award for Project Speedy with Aspida Financial Services, LLC (20min)
Body
Date of BOCC Meeting: December 8, 2025
Request for Board Action:
Agenda Text
The Board is requested to hold a public hearing to consider a performance-based award for Project Speedy with Aspida Financial Services, LLC ("Aspida") in a not-to-exceed amount of $750,000 and to authorize the County Manager to negotiate and execute a performance agreement for the award. This new office headquarters project will create approximately 1,000 jobs and invest $28.75 million over a five-year period.
The performance-based award will be funded by new tax revenue generated by Project Speedy; the award pays for itself and the revenue would not exist but for Project Speedy. All payments for the project will adhere to the Durham County Business Recruitment & Expansion Policy and will only occur following annual performance verification that the Company has met its job creation, investment, and community partnership targets. This includes maintaining that property taxes paid annually are at a minimum twice the scheduled payment amount.
Founded in 2020 and based in Durham, Aspida is a fast-growing financial services company. They provide a suite of annuity products that help people achieve and protect their financial future as well as offer reinsurance solutions for other insurance companies. Their new Durham headquarters will support the continued growth of their technology, service, and operations teams and will serve as the central global hub for their business as they expand. A headquarters of this size and scale will help burnish Durham County as a signature location for office and financial sector investment. The project also offers a variety of entry-level positions.
With approval of this award, the Company has agreed to make good faith efforts to: offer an annual internship to a student at either Durham Technical Community College o...
Click here for full text