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Texas  + Dallas-Fort Worth  + Industrial  | 
Novartis

Drug Company Eyeing $280M Denton Plant

Novartis may invest $280 million on a site in Denton. The Dallas Business Journal reports, $200 million would be for equipment and $80 million on property improvements on the 51,000 square foot site at 2101 Shady Oaks Drive. The site would be for the company’s gene therapy affiliate. The Dallas Business Journal reports that another drug company with a similar mission was planning to utilize the site at 2101 Shady Oaks Drive, but has since backed out.

A public hearing is scheduled next month at Denton City Hall to determine if the company will get tax breaks, and how much.

Novartis previously announced its intention in April to invest $23 billion over the next five years to expand its U.S. manufacturing and research and development footprint. That investment would be across 10 facilities and could create 1,000 jobs for Novartis and 4,000 jobs in the U.S.

The investments aim to increase manufacturing across the pharma giant’s main therapeutic areas such as oncology, immunology and neuroscience.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.