1,500 New Jobs Coming to Regeneron

posted by WGY News - 

Job Growth Spurs Drop In Unemployment Rate To 4.7 Percent

New York's largest bio-tech company is planning a big expansion in the Capital Region.

The state is offering Regeneron $140 million in incentives to expand its Rensselaer County campus over the next 7 years. 

The company plans to invest about $800 million to expand its laboratory space, manufacturing capacity, and warehouse facilities in East Greenbush, not far from its current operation adjacent to UAlbany's Health Sciences Campus.

The expansion would create 1,500 new full time jobs in the greater Capital Region.

It already employs 2,500 people in the area. 

The new jobs are expected to be added over the next few years.

WGY Financial Analyst Steve Bouchey says these jobs, no matter what they are, are badly needed by those currently unemployed.

Bouchey adds the money from the state is good for the community.

Photo: Getty Images

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