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Push for job growth

Kelly Liyakasa

Feb-05-10, 02:05 PM

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Topics: Health Care

U.S. Rep Nita Lowey last week called on her colleagues to pass tax credit proposals to spur job growth.

Lowey outlined three specific targets in 2010: tax credits for companies to create jobs or increase workers wages; incentives for companies investing in new facilities and equipment; and an increase in maximum federal loan guarantees.

“People follow incentives,” Dr. Leonard Schleifer, founder and CEO of Regeneron Pharmaceuticals in Tarrytown, said at a news conference. “If you provide an incentive to make an investment, people will make an investment. If you provide an incentive to create jobs, people will create jobs. But, I don’t think we should be viewing this as the solution. It’s a little bit to prime the pump to get things going again so we’re not stuck in neutral. Because, at the end of the day, there’s only so much incentives can do.”

Biotechnology company Regeneron has “added almost 400 jobs in the past two years and now have more than 1,000 employees.”

Regeneron expects to hire another 435 employees during 2010, Schleifer said.

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