FILE - Regeneron Pharmaceuticals Tarrytown NY

Corporate and Research & Development Headquarters of Regeneron Pharmaceuticals, Inc. is on Old Saw Mill River Road in Tarrytown, New York.

(The Center Square) – New York’s largest biotech firm took a step Wednesday to get even bigger as state and local officials joined Regeneron leaders to break ground on a $1.8 billion research and manufacturing facility in Tarrytown.

The 34-year-old company said it expects to create at least 1,000 new jobs in the construction project that will take five years to complete. When finished, Regeneron will add more than 900,000 square feet of space to its primary research and development complex. The eight buildings to be constructed will include laboratory, manufacturing and office space.

The project was first announced last summer.

Over the years, Regeneron’s work in New York has led to 10 medicines that have either been approved or authorized for use by the U.S. Food and Drug Administration. The company currently employs more than 10,000 workers.

Therapies developed by Regeneron include REGEN-COV, a monoclonal antibody treatment.

“New York State has played an important role in our success by consistently recognizing the value of innovation, fostering an inclusive and dynamic biomedical industry, and helping to attract top talent to the region,” Regeneron President and CEO Dr. Leonard Schleifer said.

Among those putting a shovel in the ground for the ceremonial event in the Westchester County village were Democratic Gov. Kathy Hochul; Senate Majority Leader Andrea Stewart-Cousins, D-Yonkers; and Empire State Development President, CEO and Commissioner Hope Knight.

Speaking at the groundbreaking, Hochul said Regeneron’s success in the state will help her recruit new businesses and told the crowd they “witnessed the first day of the future of New York.”

“We will never look back again and talk about the good old days of manufacturing in New York because those days are here, and we are going to supercharge it with what’s going on here today,” she said.

Empire State Development is New York’s economic development arm. It uses a mix of loans, grants, tax incentives and other measures to encourage businesses to start or expand operations in the state. The agency approved Regeneron for up to $100 million in Excelsior Jobs Program tax credits. Those incentives are contingent on the company meeting its hiring goals.

According to a release from Hochul’s office, the project is expected to generate direct and indirect benefits of more than $283 million for state and local governments, and statewide, the project is anticipated to create a nearly $2 billion economic impact.

“Regeneron is a New York State company with a record of success in creating lifesaving advancements that benefit the entire world,” Knight said.