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MegadealsSubsidy Tracker Individual Entry
Company: Regeneron Pharmaceuticals
Parent Company:
Regeneron Pharmaceuticals
Subsidy Source: multiple
Location: New York
City: East Greenbush
County: Rensselaer
Project Description: expansion of pharmaceutical facilities
Year: 2018
Major Industry of Parent: pharmaceuticals
Specific Industry of Parent: pharmaceuticals
Subsidy Value: $155,700,000
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy:
MEGADEAL
Number of Jobs or Training Slots: 1,500
Capital Investment: $800,000,000
Source of Data: Subsidies were taken from: Larry Rulison, "Drugmaker in Line For $70m In State Funds," The Times-Union (Albany, NY), January 15, 2019. Job and investment data: Robin K. Cooper, "Regeneron will invest $800 million, expand workforce by 1,500," Albany Business Review, September 11, 2018.
Notes: In 2018, Regeneron Pharmaceuticals announced $800 million expansions of its manufacturing facilities in East Greenbush, right outside of Albany. The state offered $140 million in subsidies, $70 million will come from Excelsior Job program (remaining was not specified). In addition, Rensselaer County Industrial Development Agency approved $15.7 million in sales tax exemptions and property tax abatements for one of the future buildings. Overlaps with main data: a 2019 entry for $70 million from Excelsior program. (Note: even before this expansion, Regeneron has been benefiting from multiple local subsidies provided by Rensselaer Count IDA and via Enterprise Zones. Those are not included in this total. Search main data for Regeneron in East Greenbush and Rensselaer County).
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.