Governor Andrew M. Cuomo today announced that Protein Sciences Corporation (Protein Sciences), a vaccine and biopharmaceutical company, will make a multi-million dollar investment to establish manufacturing and development operations at the Pearl River Campus in Rockland County. The Companys expansion will initially create approximately 50 new high-paying full-time jobs that could grow to up to 150 total jobs over the next decade.
"With Protein Sciences deciding to establish a manufacturing and operations facility in Rockland County, the Hudson Valley is continuing to solidify its reputation as the place to be for biopharmaceutical companies that are looking to invest and expand," Governor Cuomo said. "This multi-million investment will create dozens of new jobs in the Lower Hudson Valley, with the potential for many more in the future. Today's announcement demonstrates that our efforts to reopen New York State's doors to business and make it a more welcoming place for new investment is paying off."
"We are thrilled to be expanding our operations into New York and laying roots in Rockland County," said Protein Sciences CEO Manon Cox. "The state and local government have provided invaluable assistance, without which this transaction would not have been viable."
Protein Sciences will make a multi-million dollar investment in their operations at the Pearl River site to establish a production line for Flublok, including machinery and equipment, engineering and process validation. The Company will initially lease two buildings covering 83,000 square feet on the Pearl River campus and will create about 50 jobs. Eventually, employment could grow to as many as 150 full-time employees.
"Under the leadership of Governor Cuomo, we are making smart investments to attract new businesses like Protein Sciences that strengthen key industries, create new jobs and grow our economy," said Empire State Development President, CEO and Commissioner Kenneth Adams. "The Hudson Valley is home to some of the fastest growing biopharmaceutical industry clusters in the nation. With its unique assets and educated workforce, the Pearl River campus in Rockland County is the perfect fit for such an innovative life sciences company. We are proud to welcome Protein Sciences to the Empire State and look forward to a long and successful partnership."
Protein Sciences has developed an innovative cell-based platform technology (BEVS) that is a powerful tool for producing high quality vaccines and biologics with speed and precision. Flublok, the worlds first recombinant influenza vaccine, will be Protein Sciences first product manufactured at the Pearl River facility. Flublok is under final review by the U.S. Food and Drug Administration; approval is anticipated no later than mid-January 2013. Flublok and its sister vaccine Panblok, which is designed to protect against pandemic influenza, have been developed in partnership with the Biomedical Advanced Research and Development Authority (BARDA), a division of the U.S. Department of Health and Human Services.
The 550-acre Pearl River campus is a leading site for vaccine research, as well as key aspects of biologics research, and is home to one of Pfizer Inc.s five global R&D centers. It is owned and operated by Pfizer, the States largest biopharmaceutical company, which also has global headquarters in New York City. The buildings being leased by Protein Sciences had previously been part of Pfizers Pearl River manufacturing operations, which the company began exiting in 2010. Protein Sciences expansion will create vital new job opportunities and take advantage of a local workforce experienced in biopharmaceutical research, development and manufacturing.
As part of Governor Andrew M. Cuomos efforts to attract new businesses to New York State, ESD will provide Protein Sciences with $2 million in tax credits through the Excelsior Jobs Program that is designed to incentivize Protein Sciences to create 100 net new jobs by the end of 2017 and sustain the employment level through 2023. In addition to ESDs assistance, the Company will be making a multi-million dollar investment into the project.
Rockland County Executive C. Scott Vanderhoef said, "Attracting world class companies like Protein Sciences has an immediate impact on the local economy. I applaud the efforts of Empire State Development and all of those involved in this expansion project as we continue to attract new businesses that help promote a healthy economy in Rockland. We look forward to the creation of scores of new job opportunities, as Protein Sciences manufacturing and development operations grow in the coming years."
Senator David Carlucci said, "I am excited that Protein Sciences Corporation has decided to invest their business and talent here in Rockland County. This is yet another example of how New York State is working to foster innovation and create good paying jobs right here in the Hudson Valley. Rockland is proud to support our pioneers in the research and development field who are working create the vaccines and cures of the 21st century. I would like to thank Governor Cuomo and Empire State Development for their commitment to attract the best and brightest in our own backyards."
Assembly Member Ellen Jaffee said, "This is excellent news for Rockland County. I welcome Protein Sciences Corporation to New York, and I'm pleased they chose to locate on the Pearl River Campus. In addition to providing opportunities for job development, Protein Sciences will also bring tax relief to the community and the school district. Thanks to all the work the economic development team has done, I'm optimistic that within a few years the Pearl River Campus will be thriving with new businesses."
Assembly Member Ken Zebrowski said, "This is great news and a wonderful example of how New York State can strategically create jobs. The redevelopment of the Pfizer Pearl River campus is critical to Rockland Countys economic future."
Michael DiTullo, President & CEO, Rockland Economic Development Corporation said, "The Rockland County Economic Development Corporation worked in concert with Empire State Development to induce this inward corporate investment to New York State and Rockland County. Their aggressive and progressive approach to creating jobs boosts revenue and spurs economic opportunity for our region. All of us working together are creating tomorrows jobs - today with this new transaction. A life sciences attraction into the Pearl River campus is a perfect compliment, not only for Pfizer but also for Rockland County, as we are now seeking to grow and expand our life sciences and biotech employment base here in the county."
Steven Porath, Executive Director, Rockland County IDA said, "From an economic development perspective, having Protein Sciences locate in Rockland County is a fitting example of how partnerships between State and County agencies and officials can effectively work together with the private sector to bring business to New York. Given the Pearl River campus long, rich history of pharmaceutical innovations, this announcement sets the stage for this facility to continue to thrive and grow."
Kerrin Mahaffey, Pfizer Pearl River Site Leader said, "We are pleased that Protein Sciences has decided to locate its manufacturing operations on the Pearl River Campus, continuing the propertys 105-year pharmaceutical history."
Empire State Development (ESD) is New Yorks chief economic development agency (www.esd.ny.gov). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Cuomos Regional Economic Development Councils and the marketing of "I Love NY," the States iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov.