Biotechnology company Regeneron, with headquarters in Tarrytown, has successfully purchased the Avon Products, Inc. building in Suffern.
The space will be rented by Avon through the spring of this year, as the company transitions its operations in research and development to other locations. By mid-year, Regeneron will start renovating the space into a state-of-the art medical research lab with cold storage and office space.
Joseph Brown, spokesperson for Regeneron, said that this will be a dynamic workspace for about 230 employees of the company. This may also be good news for residents of nearby Nanuet, who will most likely benefit from this move. Executive Director of the Rockland County Industrial Development Agency, Steven Porath, said such economic development can be highly advantageous, not only for a town but for neighboring communities.
Poster printing can be used to spread the word about significant developments like this throughout a town and surrounding neighborhoods.
Regeneron is one of the largest employers in the Hudson Valley, and one of the largest companies in America. For last year, it was ranked as number 339 on the list of Fortune 500 companies. The company plans to invest close to $2 billion over the next three years to expand not only its campus in Tarrytown, but to create over 1,000 new high-skill, full-time jobs in the mid-Hudson region.
Regeneron is expected to move into the space sometime next year.
