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Governor Kathy Hochul today announced that Regeneron Pharmaceuticals, a global leader in biotechnology founded in New York State, will create 1,000 new jobs as part of a $2 billion investment at its new facility in Saratoga Springs. The company plans to utilize a more than one million square foot property it recently purchased on Duplainville Road, which previously served as a printed material manufacturer. The project would encompass the design, reconstruction and fit-out of the existing space, with potential for additional expansion. Empire State Development has agreed to support Regeneron's plans and job creation goals with up to $35 million in performance-based Excelsior Jobs Program tax credits.
“The Regeneron new investment in Saratoga County will be among the largest commercial investment both in money and job creation in Saratoga County history, surpassed only by the GlobalFoundries investment of $15 billion dollars in the Towns of Malta & Stillwater. Regeneron considered sites both nationally and internationally for this investment. Governor Hochul and Empire State Development are to be congratulated for again making New York State, and in this case Saratoga County a great place for 21st century advanced manufacturing investment and job creation. This investment is testament to the collaboration and “can do” spirit by state, county, local government as well as our Saratoga County business and economic development stakeholders that Saratoga County and New York State are a great place to live, work, raise a family and a place for capital investment.”
Greg Connors, President/CEO
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