TARRYTOWN, N.Y. – A Tarrytown-based biopharmaceutical company plans to invest almost $70 million in an expanded production facility in upstate New York.
Regeneron Pharmaceuticals and Gov. Andrew Cuomo announced that the company will add 300 jobs to its product supply operations in Rensselaer County.
“New York has been our home since we started the company in 1988,” Leonard S. Schleifer said in a statement. Schleifer is President and Chief Executive of Regeneron. “New York is a great place for biotechnology companies to do business thanks to the state’s many distinguished biomedical research institutions, its highly skilled workforce and its growing cluster of biotech companies.”
Regeneron's headquarters and research facilities are located in Tarrytown. The company has nearly 2,000 employees and was recently named the No. 1 Best Place To Work in the world by Science journal.
Cuomo's office announced that Regeneron will receive $6.7 million in Excelsior Jobs Program tax credits from Empire State Development to help assist with its expansion efforts.
“The expansion of this cutting-edge facility will further advance New York’s reputation as a world leader in the biotech industry,” Cuomo said in a statement. “The addition of 300 new, highly skilled and highly paid employees will result in a major boost to the Capital Region economy. We must continue to leverage our regional assets and strong partnerships to invest in and grow a 21st century economy that will make New York more competitive nationally and around the globe.”