Regeneron Pharmaceuticals to Invest $2 Billion, Create 1K Jobs in Saratoga

SARATOGA SPRINGS — On Nov. 13, Governor Kathy Hochul announced that Regeneron Pharmaceuticals—a biotechnology company that invents, develops, and manufactures medicines—will create 1,000 new jobs as part of a $2 billion investment in its facility in Saratoga Springs.

Last year, Regeneron purchased the former Quad Graphics printing facility at 56 Duplainville Road. The more than one-million-square-foot property will be repurposed, with potential for additional expansion, the governor said in a press release. Quad Graphics closed its facility in May of 2024.

“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.”

According to a corporate fact sheet, Regeneron has more than 15,000 employees worldwide. The company has offices scattered across the globe, including its headquarters in Tarrytown and an industrial operations and product supply facility in Rensselaer.

The company’s new facility in Saratoga will allow it to nearly double its existing manufacturing capacity in New York State, the governor said. 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 is incredibly exciting news for Saratoga Springs and the entire Capital Region,” said Saratoga Springs Mayor John Safford. “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.”

“The Regeneron new investment in Saratoga County will be among the largest commercial investments, 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 and Stillwater,” added Saratoga Economic Development Corporation President and CEO Greg Connors.

Regeneron has been expanding its presence in the Capital Region. In addition to news of its investment in the new Saratoga facility, the company also received the Foundation Leadership Award from Hudson Valley Community College on Nov. 12. Some of the company’s staffers also helped build and mark trails at Saratoga PLAN’s recently-opened Curtis Preserve in Corinth as part of Regeneron’s “Day for Doing Good,” an annual global volunteer event.

In 2020, Regeneron made national headlines when it signed a $450 million contract with the U.S. government to manufacture and supply REGN-COV2, a double-antibody cocktail designed to combat the coronavirus. The cocktail was administered to President Donald Trump when he was infected with COVID-19 in Oct. 2020. 

The firm has received a number of accolades, including Time Magazine’s “World’s Most Sustainable Companies,” and U.S. News and World Report’s “Best Companies to Work For.”