Regeneron Pharmaceuticals, a science-based biopharmaceutical company based in Tarrytown, N.Y., will expand its corporate headquarters and create more than 400 new high-skill jobs.
"Our recently approved drugs and our robust development pipeline have transformed Regeneron into one of the largest and fastest-growing biopharmaceutical companies in the U.S.," said Leonard S. Schleifer, M.D., Ph.D., president and CEO of Regeneron. "Regeneron has been based in New York since we began 25 years ago, and we are grateful to Gov. Cuomo and New York State for financial support that helps us to continue to expand and create jobs in New York."
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 science park in Mount Pleasant, N.Y. Currently, Regeneron occupies approximately 590,000 square feet of space at the site and will occupy another 85,000 square feet of additional space there later this year. 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 2,000 today, including more than 1,300 employees in Tarrytown and nearly 600 at its industrial operations and product supply facility in Rensselaer, N.Y.
Last November, Regeneron announced its plans 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.
Construction of the new buildings is anticipated to begin in late 2013 and to be completed in late 2015.