OTHERRECOMMENDED

City of Denton Economic Development Partnership Board Meeting Agenda January 2026

Board Recommends Major Economic Incentive for Novartis Gene Therapies

Abatement of real property taxes up to $2,337,960 over ten years; sales tax rebate up to $199,688; job-based grant up to $300,000; remediation grant up to $381,842Sanctuary Mud 2 Of Denton CountyNOVARTIS GENE THERAPIES INCJanuary 14, 2026

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Description

The Economic Development Partnership Board recommended to City Council an incentive agreement with Novartis Gene Therapies, Inc., involving up to $2.3 million in real property tax abatement over 10 years and more than $880,000 in various grants and rebates to support economic development initiatives in Denton.

Contract Details

Contract Amount

Abatement of real property taxes up to $2,337,960 over ten years; sales tax rebate 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

OTHER

Document Date

January 14, 2026

Contract Term

Ten years for tax abatement; other grants and rebates as described

Renewal Date

2035-11-25

Renewal Info

Ten-year term for tax abatement, specific grants and rebates administered as described. Renewal or further incentives subject to future Council actions.