Home Construction Regeneron plans $1.8B expansion in Hudson Valley

Regeneron plans $1.8B expansion in Hudson Valley

Regeneron is planning a $1.8 billion expansion at its Tarrytown campus over the next six years, including the addition of approximately 1,000 jobs. The company intends to significantly increase activities in Tarrytown as well as elsewhere.

Regeneron has plans pending approval with the town of Greenburgh to build a research and development center and parking garage on its campus and in Thursday’s announcement said it would design, construct and fit out up to eight buildings, three parking garages and a central utility plant totaling approximately 900,000 square feet.

The project is planned to take place in two phases over six years.

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The announcement of Regeneron’s expansion plans was released by Gov. Andrew M. Cuomo’s office Thursday afternoon.

“New York is proud to be at the forefront of the life sciences industry and the home of global biotech leaders like Regeneron,” 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’s President and Chief Executive Officer Leonard S. Schleifer said in the announcement, “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.”

Cuomo’s office estimated the direct economic benefit to New York would be nearly $2 billion. When Regeneron was founded in 1988 in New York City, Empire State Development invested $250,000 in the company.

Westchester County Executive George Latimer said, “Congratulations to Regeneron and thank you to Empire State Development. 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.”

Greenburgh Town 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,” Feiner said.

 

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