Prosper Insurance Company will expand from 6,000 square feet at 361 Southport Circle to 17,396 square feet at 2929 Sabre Road in Virginia Beach, Virginia.
As an incentive, Virginia Beach Economic Development Authority has approved an Economic Development Investment Program grant in the amount of $85,000 based on the number of new jobs created.
“We are grateful to be headquartered in a city that is promoting innovation and job growth,” said Andrew Monroe company co-Founder. “We are excited to continue our mission to deliver industry-leading value to our clients, while supporting our community and the environment.”
The corporate investment is expected to be $750,000 with the buildout, furniture, fixtures and equipment. According to city officials, Prosper Insurance also anticipates growing from the existing 43 full-time employees to add 75 new jobs over the next 36 months.
“These are young, forward-thinking entrepreneurs,” said Raymond K. White, Business Development Manager with Virginia Beach Economic Development. “They are charting growth, disrupting an industry and creating goodwill with everything they touch. This is a great corporate headquarters example for Virginia Beach.”