City of Denton Economic Development Partnership Board Meeting Agenda January 2026
Novartis Gene Therapies Receives Tax Incentive Recommendation
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Description
The Economic Development Partnership Board recommended approval of an incentive agreement with Novartis Gene Therapies, Inc. including up to $2.3 million in property tax abatement, nearly $200,000 in sales tax rebate, and grants for jobs and remediation. The vote was unanimous, sending the recommendation to City Council for final approval.
Contract Details
Contract Amount
Real property tax abatement up to $2,337,960 over 10 years; sales tax rebate on construction materials up to $199,688; job-based grant up to $300,000; remediation grant up to $381,842
Vendor
NOVARTIS GENE THERAPIES INC
Agency
Sanctuary Mud 2 Of Denton County, TX
Contract Type
FINANCIAL_SERVICES
Document Date
January 14, 2026
Contract Term
10 years (abatement); one-time grants
Renewal Date
2035-11-25
Renewal Info
10-year property tax abatement; other grants are one-time disbursements as earned per agreement
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