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**Novartis Eyes $280 Million Investment in Denton Facility**
Novartis is considering a $280 million investment in a new site located in Denton, Texas. Of this amount, $200 million would be dedicated to high-tech equipment and $80 million would go toward property improvements for the 51,000-square-foot facility at 2101 Shady Oaks Drive. The site is slated to support the operations of Novartis’ gene therapy affiliate.
A different pharmaceutical company with a similar focus was previously set to occupy the same location but ultimately withdrew from the project.
A public hearing is scheduled next month at Denton City Hall to determine whether Novartis will receive tax incentives for the proposed investment, and if so, how much support will be provided.
This potential expansion aligns with Novartis’ broader strategic plan announced in April, wherein the company committed to investing $23 billion over the next five years to grow its U.S. manufacturing and research and development capabilities. The plan spans across 10 facilities nationwide and is projected to create 1,000 direct jobs at Novartis and approximately 4,000 additional jobs throughout the country.
The investments are aimed at strengthening production and innovation across the company’s primary therapeutic areas, including oncology, immunology, and neuroscience.
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