The Denton Economic Development Partnership Board convened on June 25, 2025, to discuss significant developments in local economic growth, particularly focusing on a potential new business incentive agreement. The board reviewed a proposal for an incentive agreement with Panel Ray, a company looking to establish operations in Denton. This initiative is part of a broader strategy to attract businesses to the area, enhancing job opportunities and economic vitality.

During the meeting, it was revealed that the lead for Panel Ray came from the state of Texas, which assists companies seeking to relocate. The board members discussed the evaluation process for potential businesses, emphasizing the importance of available sites and the community's readiness to accommodate new enterprises. A site visit by Panel Ray representatives in March highlighted Denton's logistical advantages, making it an attractive location for their operations.

Key discussions also revolved around the financial implications of the proposed agreement. Board members examined how property tax payments would be calculated, particularly in light of recent legislative changes that could affect tax exemptions for small businesses. The new law, set to take effect on September 1, 2025, raises the threshold for property tax exemptions, potentially benefiting local businesses and encouraging further investment in the community.

The board unanimously approved the recommendation to move forward with the incentive agreement, signaling a commitment to fostering economic development in Denton. This decision aligns with the city’s goals of attracting new businesses and enhancing the local economy, ultimately benefiting residents through job creation and increased economic activity.

As the meeting concluded, board members expressed gratitude for the collaborative efforts that brought Panel Ray to Denton, highlighting the importance of teamwork in achieving economic growth. The next steps will involve finalizing the agreement and continuing to monitor the impact of new businesses on the community.