Regeneron, the largest biotechnology company in New York, is going to invest 2 billion dollars to build a new plant in Saratoga Springs. TWO BILLION dollars, pocket change.
And with that will also come 1,000 permanent jobs and another 500 temporary ones while the facility is being built, see? This we like more, and above all for the region it is an extremely important boost, putting New York at the center of biotechnology, pharmaceutical manufacturing and research.
Investment, politics, employment, and New York in the center of the biotech sector, can we ask for more?
New biotechnology project
Kathy Hochul, the governor, has confirmed that Regeneron is going to take advantage of a complex of more than one million square feet to turn it into a plant dedicated to manufacturing treatments against cancer and other infectious diseases.
The project will almost double the company’s manufacturing capacity in New York, and it all started with an initial public investment that did not exceed 250,000 dollars more than thirty years ago! And now Regeneron is a global reference…
An economic boost and…
To support the project, the state has donated up to 35 million in tax credits through the Excelsior Jobs Program, a tool that rewards investments that create quality jobs and bet on strategic sectors.
1,000 permanent jobs
There will be positions of all kinds, they will need experts in engineering, biomanufacturing, quality control, logistics… technical profiles and above all, well paid, that will turn Saratoga Springs into a technological hub.
500 temporary jobs
And before the plant is even operational, hundreds more jobs will arrive for construction, architecture and technical work to adapt the building.
A project that excites
Governor Hochul said that this represents “a double commitment” from Regeneron to the state.
For his part, the CEO, Leonard S. Schleifer, recalled that New York has been supporting the company since its beginnings, and that this growth is partly thanks to that long-term commitment.
At the local level, officials and business owners agree: it is one of the biggest projects Saratoga County has seen in years, only surpassed by the tech giant GlobalFoundries. And everyone expects a domino effect of talent and opportunities.
Innovation and medical advances
The new plant will accelerate the manufacturing of advanced medicines, especially for infectious diseases and cancer, which unfortunately still do not have a cure.
Talent, infrastructure and a lot of vision
Between prestigious universities, research centers and good transportation connections, Saratoga Springs is becoming a very attractive place for scientific companies that want to grow without moving away from the state’s innovation ecosystem.
To sum up!
This 2 billion investment is not just a spectacular figure: it is a statement of intent. Regeneron is betting on continuing to grow in New York, the state responds with support, and together they are building an infrastructure that has global impact.
The new plant will not only revitalize an industrial area, but will place the region at the forefront of world biotechnology.
And above all, it will be part of the development of medicines that literally can change the lives of millions of people.