SUFFERN, NY — Biotechnology firm Regeneron Pharmaceuticals has announced plans to sell its property at 1 Avon Place in Suffern, New York. This, along with the loss of future jobs to have been provided at the facility – may mark a shift in Suffern’s downtown economy for the next several years.
The property, acquired by Regeneron in late 2023 for approximately $39 million, had originally been slated to support the expansion of the company’s research and development operations. However, in a statement this week, Regeneron revealed that it will divest from the site as it concentrates efforts on enhancing its Tarrytown campus.
“Regeneron has made the strategic decision to sell our Suffern, NY property, which was acquired in late 2023 to supplement the expansion of our Tarrytown campus,” a company spokesperson said. “The decision reflects the progress of our Tarrytown project, which is providing additional lab and office space to meet the needs of our growing R&D pipeline, as well as our desire to keep more colleagues together on fewer campuses.”
The Suffern site, located on the former campus of Avon Products Inc., had been seen by local officials as a beacon for potential job growth and downtown revitalization. Early projections tied to Regeneron’s acquisition included a $100 million investment in renovations and the creation of over 230 high-paying jobs.
While those plans are no longer moving forward, Regeneron emphasized its continued commitment to New York State. “We remain committed to New York State and to our continued growth in the region,” the company said. “We are grateful to the local officials and community leaders in Suffern and Rockland County for their support and partnership over the past years.”
Originally opened in 1897, the Avon campus was once a major employer in Suffern, supporting a workforce of over 1,500 before the cosmetics manufacturer relocated most operations abroad in 2022. Regeneron’s acquisition was hailed as a signal that Rockland County could become a competitive hub in the state’s biotechnology sector.
With the pending sale, the future of the site remains uncertain. Local leaders and economic development officials may once again seek new opportunities to activate the property and bring employment and investment back to the village.
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