Denton board backs incentive package for Panel Ray’s planned U.S. plant

The Economic Development Partnership Board voted unanimously Wednesday to recommend that the City Council approve an incentive agreement for Panel Ray, a subsidiary of Grupo Pro Max, to locate a manufacturing facility in Denton.

The recommendation covers a Chapter 380 incentive package that, according to the agenda and staff presentation, would include multi-year rebates on real and business personal property taxes, a job-based grant for qualifying positions and a one-time $50,000 relocation grant. Board members agreed to forward the item to the City Council; staff said the item would be presented to council on July 15 for final action.

Panel Ray, based in Monterrey, Mexico, seeks to establish its first U.S. joint-compound manufacturing facility in North Texas. "This is a true recruitment project," said Britney Saltillo, economic development staff member, explaining the lead came through the state economic development division and staff responded with a Denton site. Christina Davis, the project manager who handled the city's response, said the company is considering a 60,000-square-foot building for a phased launch and that…