Regeneron Acquires Former Magazine Production Facility in Saratoga Springs
Local Economy Boost
Saratoga Springs, NY (NEWS10) — A major biotech company has purchased a former magazine production facility in Saratoga Springs. Regeneron confirmed its acquisition of the Quad Graphics building to NEWS10 on Friday.
Acquisition Details
Regeneron, headquartered in Westchester County, acquired the building at 56 Duplainville Road, which was built in 1984 by Quad Graphics for newsweekly magazine production. The production business closed its Saratoga Springs location earlier this year due to industry trends and an increase in costs.
Prior Expansion Plans
Regeneron’s purchase of the building comes after a previous proposal for expansion to a site in Menands was rejected. The company plans to use the new facility for production support activities, underscoring its commitment to growing together with the local community by investing in local economies and creating high-quality jobs in the area and across New York State.
Company Statement
"A major biotech company has bought a former magazine production facility in Saratoga Springs. Regeneron is pleased to confirm the successful acquisition of the former Quad Graphics Site in Saratoga. Founded and headquartered in New York, Regeneron proudly maintains the largest manufacturing employee base in the Capital District,” a spokesperson for the company said.
New Opportunities
The purchase of the building is part of Regeneron’s ongoing efforts to support and grow local economies. The company has other facilities in Rensselaer County and is committed to investing in local communities and creating jobs.
Conclusion
Regeneron’s acquisition of the former Quad Graphics building in Saratoga Springs is a significant move that will bring new opportunities to the local economy. The company’s commitment to investing in local communities and creating high-quality jobs will have a positive impact on the area.
Frequently Asked Questions
Q: What is Regeneron’s plan for the new facility?
A: Regeneron will use the new facility for production support activities.
Q: Why did Regeneron choose this location?
A: The company chose this location because of its commitment to investing in local economies and creating high-quality jobs in the area and across New York State.
Q: What is the history of the building?
A: The building was built in 1984 by Quad Graphics for newsweekly magazine production. The production business closed its Saratoga Springs location earlier this year due to industry trends and an increase in costs.
