New York Construction and Business News
NY - Regeneron Broke Ground on Expansion of Headquarters
November 1, 2013
Regeneron Pharmaceuticals has broken ground on a more than $100 million expansion of its corporate headquarters and laboratories in Westchester County.
Governor Andrew M. Cuomo and Regeneron Pharmaceuticals, Inc., one of the largest and fastest-growing biopharmaceutical companies in the nation and a world leader in biopharmaceutical research and development, recently announced that the company has broken ground on a more than $100 million expansion of its corporate headquarters and laboratories in Westchester County. Regeneron, which has been named the top biopharmaceutical employer in the world by Science magazine for the second straight year, will create more than 400 new high-skill jobs in the new buildings. The company’s latest expansion further cements the reputation of New York’s Hudson Valley region as an emerging epicenter for biopharmaceutical growth in the United States.
“Regeneron is a company that traces its roots back to New York, and since its time as a Hudson Valley start-up it has grown to become an international leader in the biopharmaceutical industry,” Governor Cuomo said. “This expansion project and the 400 high-tech jobs it creates are further proof that New York is becoming a hub for advanced biomedical technologies.”
"Regeneron is proud to have been in Westchester County since we opened our first lab here in 1989 and to have grown to more than 2,200 employees,” said Leonard S. Schleifer, M.D., Ph.D., Founder, President and Chief Executive Officer. “We’re excited to break ground on our latest expansion where we hope to make more discoveries that will help patients in need, and especially to do so a few days after we were again recognized by Science as the top place to work in our industry. As Regeneron is a science-based company that exists to use good science to create better medicines, this honor is very meaningful to all of our employees."
The project will add two new buildings with 300,000 square-feet of laboratory and office space to the Regeneron complex at The Landmark at Eastview in the Towns of Greenburgh and Mount Pleasant in Westchester County, New York. Currently, Regeneron occupies over 700,000 square-feet of space at the site. The expansion will enable the company to continue to accommodate the rapid growth it has experienced over the last six years – from 682 employees in 2007 to more than 1,500 employees in Tarrytown and nearly 700 at its industrial operations and product supply facility in Rensselaer, New York.
The company had also considered expanding outside New York before the State stepped in with $8.5 million in tax credits through the Excelsior Jobs Program to ensure the expansion would take place in the Empire State. The Town of Mount Pleasant Industrial Development Agency is also providing incentives.
Empire State Development President, CEO & Commissioner Kenneth Adams said, “Under Governor Cuomo’s leadership, New York State has become the center of biotech innovation featuring global industry leaders like Regeneron, who was recently named the top biopharmaceutical employer in the world. Regeneron is a true New York success story – growing from a start-up in the Hudson Valley to a global leader in research, development and innovation. The groundbreaking is the latest in a long list of job-creating expansions the company has taken on in recent years and will lead to more than 400 new, high-paying jobs for New Yorkers. I congratulate Len Schleifer and the Regeneron family on this major milestone and look forward to their continued growth.”
In 2012, Governor Cuomo announced Regeneron’s plans to invest nearly $70 million to expand its manufacturing capacity in Rensselaer and create 300 new jobs in the Capital Region. With the Rensselaer and Tarrytown expansions, the company is slated to create more than 700 new jobs in New York State and invest approximately $170 million in capital expansion in New York over the next few years.
The expansion of Regeneron’s corporate headquarters and laboratories is slated for completion in late 2015.
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