In addition, Schleifer said the company keeps growing and its “need for world-class manufacturing teams also increases.” The state’s incentives, together with federal policies, helped Regeneron expand its operations.
Regeneron began as a biotech startup in New York City in 1988. The following year, Empire State Development, under the administration of the late Gov. Mario Cuomo, invested $250,000 in the company. Within years, the state obtained a 300 percent return on investment.
At present, Regeneron is the largest biotech company in New York state. It is also one of the biggest worldwide. Over the past five years, Forbes has recognized it as one of the top 10 most innovative companies across all industries.
