Regeneron Announces $2 Billion Manufacturing Expansion in New York, Creating 1,000 Jobs
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Regeneron Pharmaceuticals plans a $2 billion expansion in Saratoga Springs, New York, creating 1,000 permanent full-time jobs and 500 construction positions.
The company will redevelop over one million square feet of former printing facility space on Duplainville Road into a major manufacturing facility.
The expansion will double Regeneron's production capacity in New York State and strengthen the company's ability to develop life-saving medications for oncology (搜索) and infectious diseases (搜索).
Regeneron Pharmaceuticals, New York's largest biotechnology company, announced a $2 billion expansion in Saratoga Springs that will create 1,000 permanent jobs and significantly boost the state's life sciences manufacturing capacity. The project represents one of New York's biggest biotech investments in recent years and underscores the company's continued commitment to its home state.
Massive Manufacturing Facility Development
The expansion involves redeveloping more than one million square feet of space on Duplainville Road, formerly occupied by Quad Graphics (搜索) for printed materials manufacturing. The new facility will double Regeneron's production capacity in New York State and includes provisions for future growth.
"For nearly four decades, New York has been a strong partner to Regeneron, helping us become a leading biotechnology company and the place where we've invented some of the most transformative medicines in biotechnology," said Leonard S. Schleifer, Regeneron's Co-Chair, President and CEO. "As Regeneron continues to drive forward our mission of using the power of science to bring forward life-changing medicines we can improve the lives of those in New York and around the world."
Economic Impact and State Support
Empire State Development (搜索) is backing the expansion with up to $35 million in performance-based tax credits through the Excelsior Jobs Program. Beyond the 1,000 full-time positions, the project is expected to generate approximately 500 short-term design and construction jobs during the development phase.
Governor Kathy Hochul emphasized the significance of Regeneron's decision to expand within the state. "Regeneron's choice to once again invest in New York State is proof that our continued commitment to innovation and talent is working," Hochul said. "New Yorkers deserve the incredible momentum we are seeing in advanced manufacturing and life sciences."
Strategic Importance for Capital Region
Local officials view the project as a major economic catalyst for the Capital Region. Mark Eagan, CEO of the Center for Economic Growth (搜索), described the investment as "a powerful vote of confidence in the Capital Region's workforce and economic momentum."
The facility stands to become one of Saratoga County's largest commercial investments, ranking second only to the $15 billion GlobalFoundries (搜索) development. Regeneron executives cited access to skilled labor and strong community support as key factors in their decision to expand in Saratoga Springs.
Strengthening Life Sciences Manufacturing
The new facility will enhance Regeneron's ability to manufacture life-saving medications and support drug development efforts in critical therapeutic areas including oncology (搜索) and infectious diseases (搜索). Founded in New York City in 1988, Regeneron has evolved into one of the world's most productive biotechnology companies while maintaining its headquarters in the state.
Part of Broader Biotech Initiative
The Regeneron expansion aligns with New York's broader strategy to establish itself as a national leader in biotechnology. The state has recently announced several major life sciences investments, including a $98 million Roswell Park (搜索) cell therapy facility in Buffalo and the planned $430 million BioGenesis Park on Long Island.
These initiatives reflect the state's comprehensive approach to biotech development, leveraging strong infrastructure, research institutions, and a highly educated workforce to attract and retain life sciences companies.