Today, the Albany County Industrial Development Agency (IDA) considered an application and scheduled a public hearing for a proposed expansion project by Regeneron Pharmaceutical, Inc.  County Executive Dan McCoy worked with the company to facilitate this impactful project – Regeneron’s first investment in Albany County – and looks forward to continued partnership on any future developments they may have in the County. The Project is located at 431 Broadway, an 18 acre site recently acquired by the company in the Village of Menands within the Town of Colonie. It is directly aligned with the County’s 2020 Economic Development Strategy which identified life sciences as a priority industry for growth in the County.  The $27 million investment will lead to the creation of 80 full time positions in the County.  

“I am committed to maximizing our efforts to expand investment in economic development.  Our Advance Albany County Alliance, led by CEO Kevin O’Connor, and our Economic Development Coordinator, Lucas Rogers, work tirelessly to promote Albany County and attract high quality employers and jobs to our County. These efforts lead to continued economic growth and the betterment of our communities,” said County Executive McCoy.”

“I want to thank Regeneron for their investment and acknowledge all of our partners in the project, including the Town of Colonie, Village of Menands, Columbia Development, the Albany County Legislature, and the Advance Albany County Alliance and IDA Boards,” he continued. 

“It’s exciting to see Regeneron Pharmaceuticals Inc. continue to expand its footprint in the Albany region. I want to thank all partners involved in this process for recognizing just how beneficial bringing this business to our County will be and for working diligently to help them set up roots across the Hudson for the first time. The county's economic development team worked quickly with Menands village officials to ensure that the company settled on a location that best suited their needs and made sense for the County. We are breathing new life into a good piece of property that was underutilized and, on top of that, we’re strengthening our workforce and local economy,” said Albany County Legislature Chairman Andrew Joyce. 

“I am pleased to welcome Regeneron to the Village of Menands, situated within the Town of Colonie.  Location is often the key to success for commerce and Regeneron’s choice of expanding into the Town of Colonie is proof positive that Regeneron continues to make best decisions for their continued growth,” said Colonie Town Supervisor Peter G. Crummey.  

“The Village of Menands has been excited to work with the Albany County Alliance (IDA) and the Albany County Executive's office over the last year to attract Regeneron to Albany County and specifically Menands,” said Village of Menands Mayor Brian Marsh. “We are thrilled to be part of the process helping Regeneron expand in our region and bring new jobs to our Broadway corridor.”

“During my time as Mayor of the Village of Menands, discussions began for Regeneron Pharmaceutical, Inc. to come to the village. While the acquisition of 431 Broadway was completed after the end of my term as Mayor, I am very pleased that Regeneron chose Menands for their expansion. Being centrally located within the Capital District, and easily accessible to every major highway, I believe this is a win for everyone,” said former Village of Menands Mayor Meg Grenier. 

“This is an exciting day for Albany County economic development. Regeneron is an industry leader and a terrific corporate citizen. This project builds on our success in attracting strategic industries and quality jobs to the County, which is the top priority of the Alliance. I commend County Executive McCoy and all of the project partners on their committed leadership and focus on attracting investment to our County,” said Kevin O’Connor, CEO of the Advance Albany County Alliance.

“In November of 2020, the Albany County legislature passed legislation to create the Advance Albany County Alliance; a public authority I had been advocating for since my first being elected. Two years ago, I called its CEO, Kevin O'Connor, and asked for the Alliance to please pay attention to Menands' sole commercial corridor, Rt. 32 Broadway. Mr. O'Connor promised his support for our village. To say he fulfilled that promise is an understatement.  Regeneron coming to Menands provides the entire county an outstanding economic growth opportunity. I look forward to working with the Alliance, the County Executive's office, and Regeneron, to facilitate pathways for ancillary businesses to serve the large professional population Regeneron will bring to our community,” said Albany County Legislator Alison McLean Lane.