Regeneron will invest $1.8 billion over six years to expand its manufacturing, support, and research facilities in New York.
According to a press release from the New York Governor’s office, Regeneron plans to expand its R&D facilities at the firm’s Westchester Country Campus in Tarrytown.
The investment encompasses Regeneron’s plans that were announced in April to inject $480 million to construct a preclinical facility at its Tarrytown campus.
Image: iStock/Dian_S_Cahya
“This new investment in our workforce and laboratory spaces will allow for continued advancement of our industry-leading scientific capabilities and diverse portfolio of medicines,” a spokesperson for Regeneron told BioProcess Insider.
“The project will include new buildings for lab space [used] for research of all kinds, as well as our preclinical manufacturing and process development facilities, offices, amenities, parking, and logistics.”
Over the next five years, the firm anticipates to take on 1,000 full-time employees throughout the Mid-Hudson region and to encourage Regeneron’s expansion in New York, the company has been offered up to $100 million in Excelsior Jobs Program tax credits if its recruitment goals are met.
The investment will see Regeneron construct up to eight buildings, three parking garages and a 900,000 square-foot utility facility.
Additionally, road infrastructure developments will be required to support additional buildings at the firm’s headquarters and R&D campus.
The project is anticipated to have two phases that span over six years and the fiscal benefit to the state is expected to exceed more than $283.3 million.
The firm will begin construction planning this summer and the expansion will be completed in 2027.
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