Regeneron Pharmaceuticals, Inc., has started a $100 million expansion of its Westchester County headquarters, Gov. Andrew Cuomo said today.
Regeneron, a top biopharmaceutical employer in the world, expects to create more than 400 new jobs by the time the expansion is complete in late 2015, Cuomo announced. The company’s founder, Leonard Schleifer, heads Cuomo’s regional development council for the Hudson Valley.
“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,” Cuomo said in a statement.
The announcement said that the company will add two buildings with 300,000 square-feet of laboratory and office space to the company’s complex at The Landmark at Eastview in Greenburgh and Mount Pleasant. The company already occupies 700,000 square-feet of space at the complex.
The company continues to grow: from 682 employees in 2007 to more than 1,500 employees now. It also has nearly 700 employees at its production facility in Rensselaer near Albany and plans to add 300 jobs there, Cuomo said.
The expansion in Westchester is coming with $8.5 million in state tax credits, as well as tax breaks from the Mount Pleasant Industrial Development Agency.
“We’re excited to break ground on our latest expansion where we hope to make more discoveries that will help patients in need,” Schleifer said in the statement.
The company, which is the state’s largest biotech company, was recently named the world’s #1 biopharmaceutical employer by Science magazine for the second year in a row based on an employees survey.