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EAST GREENBUSH, N.Y. -- The East Greenbush town board has given its approval to a multimillion dollar expansion project at a local biotech facility.

Regeneron Pharmaceuticals, a company that manufactures prescription drugs, announced a $70 million expansion. That project will require building two new sites over the next three years and the company says all together, the expansion will bring 300 new jobs.

After reviewing the potential environmental impact, board members voted to approve the project.

“It's pretty dramatic and if you think about the 300 full time jobs, those are people who are buying their groceries here, their gas here, they're buying houses here. I think it has tremendous impact,” said Regeneron General Manager Dan Van Plew.

The governor's office says this expansion is the largest in the state's biotech industry this year.