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Storyline · 16 events · Sep 20, 2016 – about Jan 2026

AEDC incentive commitment to the Texas Tech School of Veterinary Medicine (2016-2026)

In September 2016 the Amarillo City Council endorsed a $15 million Amarillo Economic Development Corporation grant to the Texas Tech University System for a proposed veterinary school, payable at $1.5 million a year for 10 years. In May 2018 the council approved an amendment allowing the AEDC to provide up to $69 million toward the roughly $90 million school. The state budget signed in June 2019 included $17.35 million in operating funds. Construction began in early 2020, the first class started in August 2021, and 61 students graduated in May 2025. In December 2025 the AEDC board approved an amendment to pay the remaining $15.6 million as a discounted one-time payment of $13,653,467.33; the City Council approved it 5-0 on January 13, 2026, and the City's fiscal 2025 audit reports that the AEDC paid off the balance after September 30, 2025.

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  1. · Origin

    City Council endorses a $15 million AEDC grant for a proposed Texas Tech veterinary school

    The Amarillo City Council unanimously endorsed a $15 million grant from the Amarillo Economic Development Corporation, funded by the half-cent sales tax, to the Texas Tech University System for a proposed veterinary school, payable at $1.5 million a year for 10 years. Conditions included starting construction by September 1, 2018, starting operations by September 1, 2022, and at least $50 million in payroll and benefits from September 2022 to September 2027.[1]

    Robert L. DuncanAmarillo Economic Development Corporation (AEDC)Texas Tech University System

    • ✓ Verified

      On September 20, 2016, the City Council unanimously endorsed a $15 million AEDC grant to the Texas Tech University System, funded through the half-cent sales tax and payable at $1.5 million per year for 10 years.[1]

      Grant
      $15,000,000
      Annual installment
      $1,500,000
      Installments
      10
    • ✓ Verified

      The 2016 grant required Texas Tech to begin construction by September 1, 2018 and operations by September 1, 2022, and to pay at least $50 million in payroll and benefits to school employees from September 1, 2022 to September 1, 2027; missing the payroll requirement would reduce the final $1.5 million installment.[1]

      Payroll requirement
      $50,000,000
    • ✓ Verified

      In 2016 the project's cost was estimated at $80 million to $90 million, and the Texas Tech University System estimated about 100 new jobs (estimates).[1]

  2. · Context

    Governor signs 2017 legislation funding creation of the veterinary school

    The Office of the Texas Governor later stated that Governor Greg Abbott signed legislation in 2017 to fund the creation of the Texas Tech University School of Veterinary Medicine. The releases do not give the date or amount.[2][3]

    Greg AbbottTexas Tech University System

    • ✓ Verified

      The Office of the Texas Governor states that Governor Greg Abbott signed legislation in 2017 to fund the creation of the school; the releases give no amount.[2][3]

  3. · Starting point

    City Council approves amendment allowing AEDC funding of up to $69 million

    The City Council approved an amendment to the 2016 agreement between the Texas Tech University System and the AEDC, providing up to $69 million toward the Texas Tech University School of Veterinary Medicine in Amarillo, a project of about $90 million. The AEDC said the school could create 95 direct jobs and more than 270 indirect jobs.[4][5][6]

    Ginger NelsonBrian HeinrichRobert L. DuncanAmarillo Economic Development Corporation (AEDC)Texas Tech University System

    • ✓ Verified

      The City Council approved an amendment to the 2016 Texas Tech University System-AEDC agreement providing up to $69 million toward the Texas Tech University School of Veterinary Medicine in Amarillo. The AEDC release dated May 9, 2018 says the approval came 'yesterday' (May 8, 2018).[4][6]

      Commitment cap
      $69,000,000
    • ✓ Verified

      High Plains Public Radio reported that the council approved the plans unanimously and, citing the Amarillo Globe-News, that the AEDC pledged almost $70 million toward a $90 million project.[5]

      Project cost
      $90,000,000
    • ✓ Verified

      Amarillo Economic Development Corporation: The AEDC projected that the school could create 95 direct jobs and more than 270 indirect jobs, and that the TTUHSC Amarillo campus's annual economic impact could exceed $242 million once the school is established (projections).[4]

      Direct jobs
      95
      Indirect jobs min
      270
      Projected campus impact
      $242,000,000
    • ✓ Verified

      Mayor Ginger Nelson; AEDC board chairman Brian Heinrich: Mayor Ginger Nelson said 'The investment in a veterinary school in Amarillo has huge economic implications'; AEDC board chairman Brian Heinrich said 'The Veterinary School will provide our community and our region with decades of economic growth.'[4][6]

    • ✓ Verified

      The fetched AEDC announcement and news coverage describe expected economic benefits but do not state why the AEDC commitment was changed from the 2016 $15 million grant to up to $69 million.[4][6][5]

  4. · Related development

    State budget includes $17.35 million in operating funds for the veterinary school

    Governor Greg Abbott authorized a state budget that included $17.35 million in operational funding for the Texas Tech University School of Veterinary Medicine in Amarillo, according to the AEDC.[7]

    Greg AbbottLaura StreetKevin CarterAmarillo Economic Development Corporation (AEDC)Texas Tech University System

    • ✓ Verified

      Amarillo Economic Development Corporation; AEDC board chair Laura Street: According to the AEDC, Governor Greg Abbott authorized a state budget on June 15, 2019 that allocated $17.35 million in operational funding for the school. AEDC board chair Laura Street said, 'Our Board pledged to support as much as $69 million to this project from the beginning.'[7]

      State operating funds
      $17,350,000

  5. · Related development

    Texas Tech meets first-stage requirements, making $30 million of the AEDC commitment payable

    The City's annual financial reports state that during 2020 the Texas Tech University System met the requirements for payment of the first stages of the AEDC's $69 million commitment, making $30 million of it payable. The same notes report the AEDC had paid $17 million of that amount by September 30, 2021, $22 million by September 30, 2022, $26 million by September 30, 2023 and $30 million by September 30, 2024.[8][9][10][11]

    Amarillo Economic Development Corporation (AEDC)Texas Tech University System

    • ✓ Verified

      The City's annual financial reports state that during 2020 the Texas Tech University System met the requirements for payment of the first stages of a $69 million AEDC commitment, making $30 million of the commitment payable.[8][11]

      Commitment
      $69,000,000
      Payable
      $30,000,000
    • ✓ Verified

      The AEDC note in each City annual financial report gives the cumulative amount paid toward the $30 million: $17 million as of September 30, 2021 (with $5 million due in 2022 and $4 million each in 2023 and 2024), $22 million as of September 30, 2022, $26 million as of September 30, 2023, and $30 million as of September 30, 2024.[8][9][10][11]

      Paid by 2021 09 30
      $17,000,000
      Paid by 2022 09 30
      $22,000,000
      Paid by 2023 09 30
      $26,000,000
      Paid by 2024 09 30
      $30,000,000

  6. · Context

    Construction of the veterinary school building begins

    Construction of the 185,000-square-foot school broke ground in early 2020, according to dvm360.[12]

    Texas Tech University System

    • ✓ Verified

      Construction of the 185,000-square-foot school broke ground in early 2020; dvm360 says the school was established in 2018.[12]

  7. · Context

    School receives provisional accreditation

    The school received Provisional Accreditation from the AVMA Council on Education in March 2021.[12]

    Texas Tech University System

    • ✓ Verified

      The school received Provisional Accreditation from the AVMA Council on Education in March 2021.[12]

  8. · Context

    First class of veterinary students begins

    The school's inaugural class began in August 2021.[13][14]

    Texas Tech University System

    • ✓ Verified

      The inaugural class began in August 2021; NewsChannel10 reports the school has been operational since 2021.[13][14]

  9. · Context

    Ribbon cutting held for the School of Veterinary Medicine

    Governor Greg Abbott spoke at the ribbon cutting for the Texas Tech University School of Veterinary Medicine in Amarillo, described as the first new veterinary school to open in Texas in more than a century.[2][12]

    Greg AbbottTexas Tech University System

    • ✓ Verified

      Governor Greg Abbott delivered remarks at the school's ribbon cutting in Amarillo on April 22, 2022; the Governor's office described it as the first new veterinary school to open in Texas in over a century.[2][12]

  10. · Context

    AEDC agreement with Texas Tech reduced by $5 million

    The City's fiscal 2024 and 2025 annual financial reports state that in 2023 the AEDC's agreement with the Texas Tech University System was reduced by $5 million. The reports do not give a date or reason.[11][15]

    Amarillo Economic Development Corporation (AEDC)Texas Tech University System

    • ✓ Verified

      The fiscal 2024 and 2025 annual financial reports state, 'In 2023, the agreement was reduced by $5 million.' Neither report states why, and no fetched source explains the reduction.[11][15]

      Reduction
      $5,000,000

  11. · Related development

    Texas Tech's certified pledge report triggers the remaining $20.8 million AEDC commitment

    According to the City's fiscal 2024 annual financial report, in 2024 the university provided a certified report of amounts pledged by outside parties, which triggered the remaining commitment of $20,810,706; as of September 30, 2024 the AEDC had accrued $20.8 million to be paid over the next four years.[11][15]

    Amarillo Economic Development Corporation (AEDC)Texas Tech University System

    • ✓ Verified

      In 2024 the university provided a certified report of other pledged amounts from external third parties, which triggered the remaining commitment of $20,810,706; as of September 30, 2024 the AEDC had paid $30 million and accrued $20.8 million to be paid over the next four years.[11]

      Remaining commitment
      $20,810,706
      Paid
      $30,000,000
    • ✓ Verified

      The fiscal 2025 report repeats the 2020, 2023 and 2024 history and states, as printed, that 'As of September 30, 2025, AEDC has paid $-0- million of the commitment and has accrued $20.8 million to be paid over the next four years.' The fiscal 2024 report had stated $30 million paid; the fiscal 2025 wording does not say whether $-0- refers to the remaining $20.8 million.[15][11]

  12. · Context

    First class of 61 veterinarians graduates

    The school awarded Doctor of Veterinary Medicine degrees to 61 students at the Amarillo Civic Center Auditorium.[13][3]

    Greg AbbottTexas Tech University System

    • ✓ Verified

      On May 18, 2025, 61 students received Doctor of Veterinary Medicine degrees in the school's first graduating class.[13][3]

      Graduates
      61

  13. · Peak

    AEDC board approves amendment to pay the remaining incentive as a discounted lump sum

    The AEDC board approved an amendment to its location incentives agreement with Texas Tech University. NewsChannel10 reported that the remaining amount owed drops from $15.6 million to $13.8 million, paid in one payment at the beginning of 2026, subject to a City Council vote in January.[14][16][17]

    Doug NelsonAmarillo Economic Development Corporation (AEDC)Texas Tech University System

    • ✓ Verified

      The AEDC board approved an amendment to its location incentives agreement with Texas Tech University under which the AEDC would pay the remaining balance as a one-time payment at the beginning of 2026, subject to a City Council vote in January.[14][18]

    • ⚠ Sources differ

      Reports differ on the remaining amount owed to Texas Tech before the amendment.

      Reported value 1[14][17]

      Remaining before
      $15,600,000
      Lump sum
      $13,800,000
      Savings
      $1,800,000

      NewsChannel10: remaining cost lowered from $15.6 million to $13.8 million, saving $1.8 million.

      Reported value 2[18]

      Remaining owed
      $5,000,000
      Period years
      3
      Savings
      $2,000,000

      KVII: interim president Doug Nelson said the university was still owed approximately $5 million over the next three years; the amendment could save nearly $2 million. No lump-sum amount stated.

      Reported value 3[16]

      Remaining before
      $15,608,029
      Lump sum
      $13,653,467
      Discount rate
      7%

      AEDC board minutes, December 18, 2025: three more years totaling $15,608,029.41; one-time discounted payment of $13,653,467.33 (net present value of 7%).

    • ✓ Verified

      The City check register (July 2022 to May 29, 2026) lists 62 payments totaling $281,833.72 to Texas Tech University Health Sciences Center (largest single payment $22,045) and 41 payments totaling $31,970 to Texas Tech University; it contains no payment to a Texas Tech payee of the size of the AEDC installments or lump sum. The register does not tie payments to projects.[19]

      Ttuhsc total
      $281,834
      Ttuhsc payments
      62
      Ttuhsc max payment
      $22,045
      Ttu total
      $31,970
      Ttu payments
      41

      See the payments in the check register →

    • ✓ Verified

      Doug Nelson, AEDC interim president and CEO (as recorded in minutes): The AEDC board minutes for December 18, 2025 record that interim president Doug Nelson said the original agreement would require the AEDC to pay three more years, for a total of $15,608,029.41, and that the amendment would allow a one-time payment at a discounted amount of $13,653,467.33, 'a net present value of 7%.' The board approved Amendment No. 2 by a 5-0 vote.[16]

      Remaining before
      $15,608,029
      Lump sum
      $13,653,467
      Discount rate
      7%
    • ⚠ Sources differ

      Sources give the lump-sum amount differently.

      Reported value 1[14][17]

      Lump sum
      $13,800,000

      About $13.8 million, as reported by KFDA and the Amarillo Globe-News ('approximately $13.8 million').

      Reported value 2[16][15]

      Lump sum
      $13,653,467

      Exact discounted amount in the AEDC board minutes and the second installment listed in the City's fiscal 2025 annual financial report.

    • ✓ Verified

      Arithmetic from the board minutes: $15,608,029.41 minus $13,653,467.33 is $1,954,562.08. News reports gave the savings as $1.8 million (KFDA, Globe-News) or 'nearly $2 million' (KVII).[16][14][17][18]

      Computed difference
      $1,954,562
    • ✓ Verified

      Doug Nelson, AEDC interim president and CEO: The Amarillo Globe-News reported that the AEDC negotiated a 'net present value discount of about 7%,' that the payment would come from the AEDC's project fund reserves, and that it required City Council approval expected in January. Interim president Doug Nelson said, 'We have the cash to be able to do the upfront payment, and so we will achieve some savings for our community,' and 'Ultimately, we're trying to be good stewards of taxpayer money.'[17]

  14. · Context

    Interim CEO describes the amendment; council consideration set for January 13

    KVII reported that the amendment could save nearly $2 million in incentives, that interim president Doug Nelson said Texas Tech was still owed about $5 million over the next three years, and that the City Council was scheduled to consider the proposal on January 13, 2026. The council approved the amendment 5-0 on January 13, 2026.[18][20]

    Doug NelsonAmarillo Economic Development Corporation (AEDC)Texas Tech University System

    • ✓ Verified

      Doug Nelson, AEDC interim president and CEO: Interim president Doug Nelson said, 'What we've proposed to Texas Tech is that we take a discount on that future cash flow,' and that 'That $1.8 million that we'll save can then be used to do other projects and bring more jobs.'[18][14]

    • ✓ Verified

      KVII reported that the incentives were meant to support construction costs and staff salaries for the veterinary school, and that the City Council was scheduled to consider the amendment at its January 13, 2026 meeting.[18]

  15. · Resolution

    City Council approves Amendment No. 2 to the AEDC-Texas Tech incentive agreement, 5-0

    At its January 13, 2026 regular meeting the City Council approved Amendment No. 2 to the Amended Location Incentive Agreement between the AEDC and Texas Tech University, presented by AEDC interim president Doug Nelson. The motion by Councilmember David Prescott, seconded by Councilmember Tim Reid, passed 5-0.[20]

    Cole StanleyTim ReidDon TippsDavid PrescottLes SimpsonDoug NelsonAmarillo Economic Development Corporation (AEDC)Texas Tech University System

    • ✓ Verified

      The January 13, 2026 City Council minutes record item 8.1, 'Consider Approval - Amendment No. 2 to the Amended Location Incentive Agreement between Amarillo Economic Development Corporation and Texas Tech University,' presented by Doug Nelson of the AEDC. Motion by Councilmember Prescott, seconded by Councilmember Reid, for approval; vote 5-0 (ayes: Cole Stanley, Tim Reid, Don Tipps, David Prescott, Les Simpson; noes, abstentions and absences: none).[20]

      Ayes
      5
      Noes
      0
    • ✓ Verified

      The minutes record the presentation, motion and vote but no discussion or stated reasons; no fetched news report covers the January 13 vote.[20]

  16. · Resolution

    AEDC pays off the remaining Texas Tech commitment, according to the City's FY2025 audit

    The City's fiscal 2025 annual financial report, issued June 4, 2026, states that after September 30, 2025 the AEDC paid off the remaining balance owed to Texas Tech in two installments of $5,202,676.47 and $13,653,467.33, the second due on or before January 21, 2026. The report does not give the dates the payments were made; the date shown is the stated due date.[15]

    Amarillo Economic Development Corporation (AEDC)Texas Tech University System

    • ✓ Verified

      The City's fiscal 2025 annual financial report states: 'Subsequent to year end, AEDC paid off the remaining balance of the Texas Tech Payable. The last two installments were $5,202,676.47 and $13,653,467.33, respectively, with the first such installment due under the terms of the agreement following AEDC's receipt of the Certificate for the Performance Year ending on August 31, 2025, and the second such installment shall be due on or before January 21, 2026.'[15]

      Installment 1
      $5,202,676
      Installment 2
      $13,653,467
    • ✓ Verified

      The report, issued June 4, 2026, does not state the dates on which the two installments were paid; no fetched AEDC or news source reports the payment date.[15]

    • ✓ Verified

      Arithmetic from the City's reports: $30,000,000 paid through September 30, 2024 plus the $5,202,676.47 and $13,653,467.33 installments totals $48,856,143.80, against a commitment of $50,810,706 ($30 million plus the $20,810,706 remainder) after the 2023 reduction.[11][15]

      Computed total paid
      $48,856,144
      Computed commitment
      $50,810,706

Related storylines: AEDC's $750,000 payment to The Range and the resulting inquiry (2022-2026)