Regeneron Will Invest $1.8B To Expand In Westchester

TARRYTOWN, NY — Regeneron will invest about $1.8 billion over six years to expand its facilities at the company's Westchester County campus in Tarrytown.

Gov. Andrew Cuomo announced Thursday that Regeneron will be creating 1,000 new full-time, high-skill jobs in the Mid-Hudson Region over the next five years.

To encourage Regeneron's continued expansion in the state, Empire State Development offered the company up to $100 million in Excelsior Jobs Program tax credits if its hiring goals are achieved.

Regeneron considered several potential sites in the tri-state area before deciding to expand in Westchester.

Cuomo said that New York is proud to be at the forefront of the life sciences industry and the home of global biotech leaders like Regeneron.

"The continued growth of Regeneron here in New York is yet another indication that we are leading the way in the life sciences and attracting the jobs of tomorrow," he said in a news release.

"Not only will this expansion further drive economic growth in the Mid-Hudson Region, but fuel lifesaving innovation and development that benefits the entire world," Cuomo said.

Leonard S. Schleifer, M.D., Regeneron's president and chief executive officer, said the coronavirus pandemic highlighted the importance of continued and long-term investment in the biopharmaceutical industry.

"Regeneron is proud to pursue life-changing science and technology from our labs and manufacturing facilities in New York State," he said. "As we expand our team and site, we look forward to bringing even more medical breakthroughs to patients in need."

The direct and indirect fiscal benefit to state and local government is estimated to be more than $283.3 million, officials said, and the estimated economic benefit to New York is nearly $2 billion.

Construction planning will begin this summer, and project construction will be completed in 2027, according to the state.

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