December 4, 2009

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Pharmaceutical company to expand Westchester operations

GREENBURGH – Regeneron Pharmaceuticals will expand its presence in Westchester County by adding a third building to its research facility at the Landmark at Eastwood campus in Greenburgh.

Regeneron occupies 390,000 square feet of space at that site, which houses its corporate headquarters and research facilities. The company employs close to 1,000 people at its two New York facilities – over 700 people in Greenburgh and over than 200 in Rensselear.

Its Westchester expansion will mean a $40 million investment and another 300 jobs.

Regeneron discovers, develops and commercializes medicines for the treatment of serious conditions including cancer, gout and retinal.

The new facility will be used for additional research labs and administrative offices.

As an incentive for the company to stay in New York, the state’s Empire State Development Corporation gave it $over $2.1 million in a capital grant. The Westchester County Industrial Development agency will provide sales tax abatement and payment in lieu of taxes incentives work $1.5 million in tax savings.

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