Meet Phoenix IDA Board Treasurer: Tess Burleson, MBA, CPA
Chief Operating Officer of TGen and President of TGen Health Ventures
As the chief operating officer of the Translational Genomics Research Institute (TGen) and president of TGen Health Ventures, Tess Burleson has spent the past two decades helping to shape the biosciences landscape in Phoenix.
“I’ve watched the bioscience campus in Phoenix fill up with amazing opportunities to learn, and witnessed the incubation of many new companies and it has been thrilling,” Burleson says.
TGen, an affiliate of the City of Hope, is a founding tenant of the Phoenix Bioscience Core, a 30-acre life sciences innovation district in the heart of downtown, which is now home to corporate, federal and early-stage life science leaders co-located alongside nationally ranked medical education and academic research institutions.
Burleson serves as a key link between the scientific and administrative leadership at TGen, and she is responsible for commercialization of TGen’s intellectual property, from initial evaluation to capitalization and divestiture. She also maintains responsibility for key strategic business ventures and high priority collaborations with several clinical partners.
This year, she serves as treasurer of the Phoenix IDA’s board of directors. She was first appointed to the board in November 2018.
“It’s really great to be part of an organization like the Phoenix IDA that does so much for our community behind the scenes and gives back in so many ways,” Burleson says.“I appreciate the work they are doing around affordable housing, and figuring out how we make it attractive for private industry to develop since there is a real need in our community for more workforce housing.”
With both her work at TGen and her role as board treasurer for the Phoenix IDA, Burleson thrives in a culture of collaboration. “At TGen, we are truly translating discoveries into something that benefits patients. We have launched 18 spinoff companies and a few have had a lot of success, improving lives and employing a lot of people in molecular diagnostics.”
With the Phoenix IDA, she values the return on investment the community receives noting that “everything they finance comes back to some benefit for the community.”
A recent example of this in the healthcare space is the bond financing provided for Brooks Rehabilitation, which will serve as a partner to Mayo Clinic in providing post-acute inpatient rehabilitation services to patients in north Phoenix when it opens in fall 2026.
Burleson is no stranger to serving the community – she currently serves on several boards in both for-profit and non-profit organizations. Outside of work, she enjoys traveling, skiing, reading, as well as practicing yoga and Pilates.
New Brooks Rehabilitation Facility Breaks Ground
Phoenix IDA provided $80.5M in financing and the City of Phoenix invested $45M in infrastructure
The Phoenix IDA recently joined executives from Brooks Rehabilitation, Mayo Clinic, Phoenix Mayor Kate Gallego and members of the development team to celebrate the groundbreaking of the new Brooks Rehabilitation facility, which will be located adjacent to Mayo Clinic’s Discovery Oasis campus in north Phoenix.
This 60-bed rehabilitation facility will enhance post-acute inpatient rehabilitation care in the area. The facility will treat patients with traumatic brain injuries, strokes, spinal cord injuries and other complex conditions.
Mayor Gallego spoke about the importance of excellent healthcare in Phoenix and the City’s commitment to recruiting top healthcare organizations. “I’m so excited to welcome Brooks to this beautiful part of our incredible city. Mayo has saved so many lives and improved so many lives in the city of Phoenix and this collaboration will only take this success rate to the next level,” she shared. “Our Industrial Development Authority has been a partner, which was able to provide $80.5 million in financing and the City has invested $45 million in infrastructure to help this collaboration move forward.”
Project completion is expected by fall 2026, and Brooks Rehabilitation estimates it will employ 200 people when the facility is complete. For more information, read this article by Brooks Rehabilitation.
Home in Five Platinum Expected to Fund Another 320 Home Loans
Home loan reservations are being accepted now for Home in Five Platinum with a $100 million bond issue enabling the Phoenix IDA and Maricopa County IDA to assist with approximately 320 home purchases in Maricopa county through the program. This program serves low- and moderate-income individuals and families by providing down payment and closing cost assistance paired with attractive home loan rates. The initial interest rate for homebuyers has been set at 5.7% with 4% provided toward down payment and closing cost assistance. For more information, please visit the Home in Five website.
Phoenix IDA Welcomes New Senior Accountant
Franccesca Cruz-Ortega, MBA, has joined the Phoenix IDA team as a senior accountant. She has more than two decades of experience in accounting, office management and human resources with the majority of her experience in the nonprofit sector. She most recently served Keys to Change (formerly the Human Services Campus) as controller overseeing a staff of four accountants.
Cruz-Ortega has an MBA from Franklyn University and her bachelor’s degree in accounting from the University of Phoenix Puerto Rico. She has served on several boards of directors, including Valle del Sol, Xico, the Victoria Foundation and the Evergreen Foundation. Please join us in welcoming Franccesca to the Phoenix IDA!
