Regeneron has announced plans to invest about $1.8bn to expand its facilities at its Westchester County campus in the US, over the next six years.
The company intends to expand its research, preclinical manufacturing, and support facilities in Tarrytown, New York, creating approximately 1,000 more full-time jobs in the region over the next five years.
The expansion project involves addition of new preclinical manufacturing and process development suites, office space and laboratories to substantially expand its research and development capabilities in Tarrytown.
It will also include design and construction of up to eight new buildings, a central utility plant, as well as three parking garages totalling approximately 900,000ft2.
New York Governor Andrew Cuomo noted that the project would also require road infrastructure improvements to support construction of additional buildings at Westchester County campus.
Regeneron president and CEO Leonard Schleifer said: “The Covid-19 pandemic has highlighted the importance of continued and long-term investment in the biopharmaceutical industry, and Regeneron is proud to pursue life-changing science and technology from our labs and manufacturing facilities in New York State.
“In 2020 and 2021, the Regeneron team has worked tirelessly, bringing forward new treatments for people with COVID-19, Ebola, multiple forms of cancer and pediatric atopic dermatitis.
“As we expand our team and site, we look forward to bringing even more medical breakthroughs to patients in need.”
Work on the project is planned to be completed in two phases in next six years.
Empire State Development has offered up to $100m to Regeneron in Excelsior Jobs Program tax credits if it reaches its hiring goal.