Fast growing biopharmaceutical company brings more high-skill jobs to the county and spurs economic development
When the news that Regeneron Pharmaceuticals would expand its headquarters with two new buildings, adding up to 300,000 square feet of laboratory and office space, and new high-skill 400 jobs...
...Marissa Brett was overjoyed. “This is very big news for Westchester!” said Brett who is WCA’s Executive Director of Economic Development. She also directs The Blueprint for Westchester, the WCA’s aggressive initiative to spur economic vitality and growth in the region. "The expansion will attract hundreds of high-skill jobs and also be a boon to the county’s construction industry."
Regeneron made public its plans after receiving approval for new drugs and $8.5 million in tax credits through the Excelsior Jobs Program and incentives from the Town of Mount Pleasant Industrial Development Agency. 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 Town of Mount Pleasant in Westchester County, New York. 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.
Last November, Regeneron announced 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.
“Clearly the Hudson Valley is an emerging epicenter for biopharmaceutical growth,” noted Brett. Construction of the new buildings is anticipated to begin in late 2013 and to be completed in late 2015.