TARRYTOWN, N.Y. (AP) - An Albany-area biotech firm is planning a big expansion that it says could create as many as 1,500 new jobs.
New York Gov. Andrew Cuomo’s administration announced Tuesday that Regeneron plans to invest $800 million over seven years in its offices in Rensselaer County. The money will go to expand the company’s laboratory space, warehouse facilities and manufacturing capability.
Headquartered in Tarrytown, New York, Regeneron develops and manufactures new medical treatments. It is the state’s largest biotech firm.
Regeneron already employs 5,400 people in New York state.
State economic development officials offered the company up to $140 million in tax credits and other incentives to support the expansion.
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