**Novartis Eyes $280 Million Investment in Denton Facility**
Novartis is considering a $280 million investment to develop a new site in Denton, Texas. The proposed facility, located at 2101 Shady Oaks Drive, would serve the pharmaceutical giant’s gene therapy affiliate. The investment includes $200 million allocated for equipment and $80 million for property improvements at the 51,000-square-foot site.
A public hearing is scheduled next month at Denton City Hall to evaluate the possibility of tax incentives for the project and determine their potential value.
Novartis initially revealed plans in April to invest $23 billion over the next five years to expand its U.S. manufacturing and research and development operations. That broader initiative, spanning 10 facilities, is expected to generate 1,000 jobs within the company and contribute to the creation of another 4,000 jobs nationwide.
The larger investment strategy supports Novartis’ commitment to strengthening its manufacturing capabilities across key therapeutic areas, including oncology, immunology, and neuroscience.
Previously, another pharmaceutical company with a similar focus had intended to occupy the Denton site but has since withdrawn, paving the way for Novartis to move forward with negotiations.
