On the heels of over 2,000 layoffs in New York is news that the state is creating 1,500 new jobs.
Last month, over 2,000 New Yorkers were laid off, including residents from the Hudson Valley.
Regeneron To Build $2 Billion Facility In Upstate New York
New York leaders proudly announced that the local economy is in line to get a significant boost thanks to Regeneron.
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The company announced plans to build a $2 billion drug production facility at the former Quad Graphics site in Saratoga Springs.
“Regeneron’s choice to once again invest in New York State is proof that our continued commitment to innovation and talent is working. New Yorkers deserve the incredible momentum we are seeing in advanced manufacturing and life sciences,” Gov. Hochul stated.
New Facility To Create Over 1,500 Jobs
The new Saratoga Springs facility allows Regeneron to nearly double its existing manufacturing capacity in New York State.
Once fully operational, the facility create at least 1,000 full-time, permanent high-paying jobs and around 500 short-term design and construction jobs.
“For decades, Regeneron has been one of our great success stories — now, they are doubling down by creating 1,000 good-paying jobs and expanding the biotech industry that transforms lives across the world,” Hochul said.
Regeneron is the largest biotech company in New York. It’s also one if the biggest and most productive in the world.
“As Regeneron continues to drive forward our mission of using the power of science to bring forward life-changing medicines we can improve the lives of those in New York and around the world. In this pursuit, we look forward to continuing to fuel economic development and create meaningful, well-paying jobs that strengthen communities across the state,” Regeneron Co-Chair, President and CEO Leonard S. Schleifer said.
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Regeneron already has research and manufacturing facilities in Rensselaer County.
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