Regeneron to Invest $2B in Saratoga County Facility

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.

“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,” Governor Hochul said. “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.”

Regeneron was founded in 1988 in New York City; the following year, New York invested $250,000 in the company. Today, Regeneron is the largest biotech company in New York and one of the largest and most productive in the world. The new facility in Saratoga Springs will allow Regeneron to nearly double its existing manufacturing capacity in New York State. The project is expected to support approximately 500 short-term design and construction jobs, and create at least 1,000 full-time, permanent jobs. This project will bolster the company's efforts in manufacturing and developing life-saving medications to fight the spread of infectious diseases, as well as continue to improve its oncology capabilities to fight cancer as well as a wide range of other life altering diseases.

Regeneron Co-Chair, President and CEO Leonard S. Schleifer, M.D., Ph.D. said, “For nearly four decades, New York has been a strong partner to Regeneron, helping us become a leading biotechnology company and the place where we’ve invented some of the most transformative medicines in biotechnology. 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.”

Empire State Development President, CEO and Commissioner Hope Knight said, “Regeneron’s continued growth in New York is a powerful testament to our state’s robust life sciences ecosystem, our unmatched talent pipeline, and strategic industry investments championed by Governor Hochul. This $2 billion expansion and the creation of 1,000 new jobs in the Capital Region demonstrates how innovative companies and New York State can work together to drive transformative economic development, and Empire State Development is proud to support projects that fuel innovation, strengthen communities, and deliver life-changing breakthroughs for New Yorkers and people around the world.”

Regeneron Industrial Operations and Product Supply Executive Vice President and General Manager Daniel Van Plew said, “The decision to build in Saratoga was an easy one. The Capital Region is full of talented people and dependable partners. I’m genuinely excited that as Regeneron grows, so does our commitment to this community.”

Regeneron's expansion in the Capital Region represents the latest in a series of major life sciences investments across New York State, reinforcing the state's position as a national leader in pharmaceutical innovation and manufacturing. New York’s life sciences ecosystem is anchored by world-class research institutions, a highly educated workforce supported by more than 30 colleges, and strategic infrastructure — including proximity to major airports and transportation networks. With a skilled regional labor pool and a top national ranking for bioscience patents, New York State offers companies like Regeneron the ideal environment to expand, strengthen supply chains and deliver critical health solutions to patients around the world.

The Governor’s innovation agenda has catalyzed major public and private investments, transforming New York’s economy and creating good-paying jobs of the future. In August, Governor Hochul announced new members of the Emerging Technology Advisory Board focused on biotechnology, an independent group of industry leaders, including Regeneron, tasked with helping chart the course to further expand a thriving biotech ecosystem in New York State. The Advisory Board is co-chaired by Pfizer Chief Strategy and Innovation Officer Andrew Baum and The Michael J. Fox Foundation CEO and Co-Founder Debi Brooks, who will help further the Governor’s commitment to making New York a national leader in life sciences, innovation and advanced manufacturing.

In 2024, Governor Hochul announced the opening of Roswell Park GMP Engineering and Cell Manufacturing Facility, New York's first cell and gene therapy hub, located at Roswell Park Comprehensive Cancer Center in Buffalo. The $98 million facility will create new jobs, help to support the research and development of life-saving cell and gene therapies at Roswell, significantly grow its well-established research capabilities, and establish Roswell as one of the premier cell therapy discovery and development institutions in the nation. Additionally, the Governor unveiled the plans for New York BioGenesis Park, a groundbreaking $430 million Cell and Gene Therapy Innovation Hub in Nassau County, Long Island, which will catalyze CGT research, development, clinical manufacturing, and commercialization across New York State.

Representative Paul Tonko said, “Our region has long been a hub for science, research, and innovation, and this latest announcement that Regeneron will build a new facility in Saratoga Springs will further cement that proud history. This multi-billion investment will create good-paying jobs, drive manufacturing and biotech developments, and be an economic boon for our Capital Region and beyond. I look forward to doing all I can to support this promising facility, and to seeing the lasting benefits and advancements that come from this project."

Assemblymember Steve Otis said, “Time and time again science and technology companies are expanding or locating in New York State rather than choosing other states or countries. Business leaders regularly point to New York’s well-educated workforce. Congratulations to Governor Hochul, Regeneron, and Empire State Development for this new expansion. Regeneron continues to be one of the most exciting, innovative, and successful biotechnology companies in the world. Their continued growth in New York is a great example of the partnership between dynamic companies and our NYS economic development team.”

Saratoga County Board of Supervisors Chairman Phil Barrett said, “We welcome Regeneron’s decision to expand into Saratoga County. This major investment and their selection of Saratoga County above many other contenders affirms that our business-friendly climate, strong community, and exceptional quality of life continue to attract leading high-tech companies. We look forward to partnering with Regeneron on key infrastructure and workforce development initiatives to ensure their success here.”

Saratoga Springs Mayor John Safford said, “This is incredibly exciting news for Saratoga Springs and the entire Capital Region. Regeneron’s decision to invest here underscores the strength of our community, our workforce, and the County's growing reputation as a hub for innovation and advanced manufacturing. A project of this scale will not only create good-paying jobs but also generate significant economic opportunity for local businesses and residents. We look forward to working with Regeneron and our county and state partners to ensure this investment brings long-term benefits to Saratoga Springs and the region.”

Saratoga County IDA Chairman Rod Sutton said, "The Saratoga County IDA applauds the new investment by Regeneron in the former Quad Graphics building in Saratoga County. This investment, which is planned to create 1000 new full-time job opportunities is a win-win-win......for Saratoga County, the Capital Region and State of New York. The IDA congratulates the Governor for her role in making NYS a great place for 21st advanced manufacturing investment."

Center for Economic Growth President and CEO Mark Eagan said, “Regeneron’s investment in Saratoga Springs is a powerful vote of confidence in the Capital Region’s workforce and economic momentum. This project will breathe new life into a major facility, create more than a thousand quality jobs, and strengthen our region’s position as a leader in biotech.”

Saratoga Economic Development Corporation President and CEO Greg Connors said, “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.”