Video, Audio, Photos & Rush Transcript: Governor Hochul Announces Breakthrough for Regeneron’s $ 1.8 Billion Expansion in Westchester County

Earlier today, Governor Kathy Hochul announced the groundbreaking for Regeneron’s previously announced $ 1.8 billion research, preclinical manufacturing and support facilities on the company’s Westchester County campus in Tarrytown. The company, a biotechnology leader inventing and producing life-transforming drugs for people with serious illnesses, is committed to creating at least 1,000 new full-time, high-skill jobs in the Mid-Hudson region over the next five years. year. To boost Regeneron’s continued expansion in New York State, Empire State Development is supporting the project with up to $ 100 million in performance-based Excelsior Jobs Program tax credits, in line with the company’s hiring goals. Regeneron considered several potential sites in the three-state area before deciding to expand into the Mid-Hudson region.

VIDEO of the event is available on YouTube over here and in TV quality (h.264, mp4) format over here,

audio of the event is available over here,

photos will be available on the Governor’s Flickr page,

A hasty transcript of the governor’s remarks is available below,

Thank you. Oh, Leonard, thank you so much for making me feel so welcome and so proud to have Regeneron, not just born here, the inspiration of an individual who will forever be associated with the emergence of the bio- industry. and life sciences in the state of New York. A young man who has just enough vision, an idea, but also not only was born here, but came through your childhood, in your teens and now full adulthood is a business that thrives and continues to grow here in our State of New York .

This is enormous for us. I can never overestimate what a 1.8 billion investment to create an extra thousand jobs for us means at this point in the history of our state. So to Leonard Schleifer, thank you.

Thank you. You and George, you are referring back to our founders. You talk about Hamilton, but people will look back on our time and they will ask that question. What did New York do in the wake of a devastating global pandemic? The epicenter of which was at one time Westchester and then spread to New York City and spread across the state.

How did they get back? What did they do? What is the secret of their success? And it’s because of companies like Regeneron, we can point back and say that they just keep going. They did not check out. They did not stay at home. They did not zoom in on life. They appeared every day and because of their sharp intellect and innovation, the smartest scientists on the planet, they developed a life-saving medicine and I am so proud of that, because today thousands of people still walk on this earth because of work that’s done here by you and your boys. That’s powerful. That’s what I’m talking about.

And as I called the pandemic, I must think of an individual with whom I had regular contact in the least days, but one who showed what real leadership looks like. Our County Executive, George Latimer, you have brought us through some really difficult, difficult times. And we have great partners in government.

Believe me, I always hear all about Westchester from the Majority Leader, who has never forgotten where she came from. She may be a powerful voice in the state, but she never forgets her home field here in Westchester, a great person I call my friend. Majority Leader Andrea Stewart-Cousins ​​here in person.

And I know that our partners, our senators and our members of parliament have all been recognized. Please stand up and take another bow. You are extraordinary leaders, each one of you. Thank you. Thank you for what you have done. By getting us through the budget, bringing us to the end of the session. And I thank you too for your friendship.

Hope Knight, who is there with me, makes some critically important decisions, like again, when we come out of this dark time. I want you to stand up, show everyone who you are, Hope Knight, the leader of Empire State Development for the state of New York. I just want to say it again. Thanks for Regeneron. Thank you for believing in our state through some good times and some bad ones. You could go to other states, there were other options available, I guarantee every state in the nation tried to lure you away, I know that. And you have re-planted the flag here, for another generation of making life-saving medicines, and medicines that will give people a quality of life that they have been denied, not their own fault, but because they have been beaten down with a disease. That’s so important.

But the thousands of people with well-paying jobs who bring their family pride and lift their families out of their circumstances. That’s what manufacturing is all about. And I know a little bit about this, because my family lived the American Dream back then grandfather left great poverty in Ireland and was able to leave work as a migrant farm worker when he found a job producing steel in Lackawanna, New York.

When he got that union card, he made steel, some of the steel that still adorns the buildings we see in our landscape today, and my father worked there as well. That’s what lifts my family. That, I believe in manufacturing and especially the legacy industry we have lost to foreign competition, and to other states.

We are committed to bringing them back, but also to the emergence of the life sciences and life sciences, in addition to the $ 100 million we are investing in this project – of course they are a few less zeros than you, but we are proud to to support you – all tied to job creation. You create the jobs, you get the tax credit, that’s how it works.

But also the $ 520 million we generally invest in the sector. That is our commitment, to lead the nation forward and say we want to continue to attract the best and the worst – the scientists, the researchers, the hardworking men and women who will help lift us up. Not only here at this company, but with that, your success is a message of success and hope for the rest of the nation that this company has returned strongly and is building and investing in the future.

That sends a message to companies saying, where do I want to go? Where do I want to invest? Now, look what Regeneron did exactly – they could have gone anywhere, they stayed in New York. That’s a story I’ll talk about when I try to recruit others to come here or expand here.

The future is happening right now, I can feel it. The energy that is made with all the people here so proud of the name Regeneron. So, as the governor, I hope to be back for the ribbon cutting. No guarantees, many things are beyond my control in life. Maybe you can make it a little faster?

But again, that first $ 250,000 investment in a company that is now the largest employer with 10,000 people, my friends, we will never look back and talk about the good old days of manufacturing in New York, because those days are here are and we will overload it with what is happening here today.

You have witnessed history. You witnessed the first day of the future of New York. Thank you. Thank you for believing in us.


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