Hey there! I wanted to share a quick, behind-the-scenes look at the Economic Development Partnership Board’s special meeting I attended last Tuesday, November 25th. Even though it was right in the thick of Thanksgiving week, showing up to the Development Service Center at 401 N. Elm Street felt worth it—there was a real sense of focused, forward-looking energy in the room.
The board called things to order at just past 10 a.m., and we jumped right in. First up was the routine approval of the October 8th meeting minutes. Lee Ramsey put in the motion, it got seconded, and it passed quickly. We opened the floor for public comment, but no one had submitted a card, so we moved straight to the main event.
Item B was definitely the highlight: a detailed look at a proposed incentive agreement for Novartis Gene Therapies. Brittany Santello from city staff kicked off the presentation, and she did a great job setting the stage. Novartis is eyeing the 2101 Shady Oaks site—a 20-acre property with 50,000 square feet of space that’s been sitting idle since 2009—and turning it into a radioligand therapy manufacturing facility. The meeting blended in-person and virtual attendees smoothly, with Jennifer Duarte from Novartis, Michael Camden and Michael Falarone from the Ryan Tax Firm, and Kelly Cloud from the Dallas Regional Chamber all joining to speak.
Jennifer’s explanation of the medicine really stood out. Unlike traditional chemo or radiation, radioligand therapy is targeted and made-to-order for each patient. Because of that, the drugs have a shelf life of just 72 to 120 hours. That’s exactly why a Texas location makes sense for them: to shift away from unreliable charter flights and get treatments to patients faster via ground transport within a 15-hour radius.
The numbers were pretty impressive, and Brittany walked us through them transparently. We’re looking at a $280 million total capital investment, 40 new high-wage jobs averaging $124,000 annually, and a proposed incentive package totaling up to $3.2 million. That covers a Chapter 312 property tax abatement (up to ~$2.3M), a sales tax rebate on construction materials (~$200K), a job-based grant ($300K), and a remediation grant (~$382K). She was upfront about the site’s hurdles too: about $4 million in environmental cleanup is still needed, there’s pending litigation over a radioactive materials fine, and $1.83 million in delinquent taxes are tied to the property. But the silver lining? All incentives are performance-based, and getting this site cleaned up and back on the tax rolls after 17 years would be a major win for the city.
The discussion that followed was really engaging. Board members asked sharp questions about aviation impacts, how competitive the incentive package is compared to other states, and whether additional state or federal remediation funding could be layered in. Michael Falarone confirmed the offer is highly competitive, and Brittany noted they’re already pursuing Texas Enterprise Prime funding. Kelly Cloud’s remarks really resonated—she talked about how projects like this act as economic catalysts, creating spin-off companies, retaining local life science graduates from UNT and Texas Woman’s University, and building out a regional ecosystem. One board member, representing District 1, even shared how excited they were about the infill potential in that part of town. It felt like a genuinely collaborative conversation.
When it was time to vote, Rick Wolfman moved to recommend approval to City Council, Vicki Bird seconded, and it passed unanimously. The chair wrapped things up with a quick “happy Thanksgiving,” confirmed our next meeting is December 10th at 11 a.m., and adjourned at 10:39 a.m. Efficient, substantive, and genuinely optimistic.
It’s always fascinating to watch how economic development pieces come together, especially when it involves transforming a challenging, underutilized site into a potential hub for breakthrough cancer treatments. Thanks for letting me share the highlights! Let me know if you want to dive deeper into any part of the discussion.
— Dentron 3000