WESTCHESTER – Governor Cuomo announced Thursday that Regeneron, a biotechnology company that invents and manufactures life-transforming medicines for people with serious diseases, intends to invest approximately $1.8 billion over six years to expand its research, preclinical manufacturing, and support facilities at the company’s Westchester County campus in Tarrytown and create 1,000 new full-time, high-skill jobs in the Mid-Hudson Region over the next five years.
To encourage Regeneron’s continued expansion in New York State, Empire State Development offered the company up to $100 million in Excelsior Jobs Program tax credits if its hiring goals are achieved. Regeneron considered several potential sites in the tri-state area before deciding to expand in the Mid-Hudson region.
“New York is proud to be at the forefront of the life sciences industry and the home of global biotech leaders like Regeneron,” Governor Cuomo said. “The continued growth of Regeneron here in New York is yet another indication that we are leading the way in the life sciences and attracting the jobs of tomorrow. Not only will this expansion further drive economic growth in the Mid-Hudson Region, but fuel lifesaving innovation and development that benefits the entire world.”
Regeneron President and Chief Executive Officer Leonard Schleifer, M.D., Ph.D., said, “The COVID-19 pandemic has highlighted the importance of continued and long-term investment in the biopharmaceutical industry, and Regeneron is proud to pursue life-changing science and technology from our labs and manufacturing facilities in New York State. In 2020 and 2021, the Regeneron team has worked tirelessly, bringing forward new treatments for people with COVID-19, Ebola, multiple forms of cancer, and pediatric atopic dermatitis. As we expand our team and site, we look forward to bringing even more medical breakthroughs to patients in need.”
Senator Pete Harckham said, “The planned expansion of Regeneron at its general Westchester headquarters stands as great news for the Hudson Valley region and New York because of the substantial economic growth that will be created as a result. This trailblazing biotech company is one of the leading innovators in the country, spurring biological and technological advances for over 30 years.”
County Executive George Latimer congratulated Regeneron, saying said, “Westchester County is continuing to lead the way in the Biotech industry. Not only is our County becoming a central location for the industry, but the people working here are living here and raising their families here. This expansion will not only create jobs and inspire future generations interested in pursuing a biotech career to stay right here in Westchester.”
Town of Greenburgh Supervisor Paul Feiner said, “Regeneron is a destination point for those who appreciate the importance of biotech companies. We are very excited that Regeneron is expanding and that they have put the Town of Greenburgh on the map.”
