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FINANCIAL_SERVICESAPPROVED

Durham County Board of Commissioners Meeting Minutes December 8 2025

County Approves $5.5M Incentive Deal with Novartis

Not to exceed $5,500,000Duke Regional HospitalNOVARTIS GENE THERAPIES INCDecember 8, 2025

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Description

Durham County approved a performance-based incentive agreement with Novartis Gene Therapies, Inc. for up to $5.5 million to support its Arrowwood and Red Cedar manufacturing expansions. The projects will create about 280 jobs and generate $540 million in investment over five years, with performance monitored over a decade.

Contract Details

Contract Amount

Not to exceed $5,500,000

Vendor

NOVARTIS GENE THERAPIES INC

Agency

Duke Regional Hospital, NC

Contract Type

FINANCIAL_SERVICES

Document Date

December 8, 2025

Contract Term

Performance period of 10 years for monitoring measures; investments and job creation over a five-year period

Renewal Date

2035-12-31

Renewal Info

Performance agreement to be negotiated and executed by the County Manager, with Economic Development monitoring performance measures for 10 years and the ability for the County to reduce funding if benchmarks are not met.

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