Regeneron to Invest $800M in Rensselaer

Regeneron plans to invest approximately $800 million over seven years to expand its laboratory space, manufacturing capacity and warehouse facilities at its Rensselaer, NY campus. The expansion will create 1,500 new full-time jobs in the area.
 
New York State, Empire State Development offered the company as much as $140 million in performance-based incentives, including $70 million in Excelsior Jobs Program tax credits. Regeneron markets Eylea for retinal diseases, which had $3.7 billion in sales in 2017. Regeneron is the largest biopharma company in New York State.

Regeneron president and chief executive officer Leonard Schleifer said, "Regeneron was founded as a proud New York company 30 years ago, and we appreciate the continued commitment of Governor Cuomo’s administration to make New York the ideal location to build and expand an innovative life science company. As our number of approved and investigational medicines continues to grow, our need for world-class manufacturing teams and facilities also increases. These state incentives, along with other state and federal policies, have helped Regeneron keep and expand our operations in New York State, which will benefit the local economy and help us achieve our mission of bringing new medicines to people with serious diseases."

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