Regeneron Pharmaceuticals, a Tarrytown, New York-based bio/pharmaceutical company, has announced plans to invest $2 billion for a new manufacturing facility in Saratoga Springs, New York.  

The company plans to use an approximate 1-million-square-foot property it had earlier purchased in 2024, which previously served as a facility for a printed material manufacturer. The project encompasses the design, reconstruction, and fit-out of the existing space, with potential for additional expansion.  

The new facility in Saratoga Springs will allow Regeneron to nearly double its existing manufacturing capacity in New York State. The company owns an approximate 1.6-million-square-foot-facility in Rensselaer, New York, with manufacturing, fill–finish, warehouse, laboratory and laboratory space, and owns an approximate 850,000-square-foot facility in Limerick, Ireland, with manufacturing, warehouse, laboratory, and office space, according to the company’s 2024 financial filing. It also leases 1.5-million square feet of space in Tarrytown, New York, for its corporate headquarters and laboratory and office space. The company also owns an approximate 100-acre parcel of land adjacent to its Tarrytown, New York, location, which the company said in its 2024 year-end filling that it is the process of developing, primarily to expand research, preclinical manufacturing, and support facilities.  

Empire State Development, an economic development agency of New York State, has agreed to support Regeneron’s plans and job creation goals with up to $35 million in performance-based Excelsior Jobs Program tax credits. 

Source: New York Office of the Governor