Performance-Based Excelsior Jobs Program to Support Creation of Up to 80 New Jobs
Expansion Builds on Prior Investments in Taystee Lab Building, Harlem Biospace to Grow New York's Life Sciences Sector
Governor Kathy Hochul today announced Schrödinger, Inc. - whose physics-based computational platform is transforming the way therapeutics and materials are discovered - is investing $7.6 million to expand operations at its headquarters in New York City. Schrödinger will lease additional space at 1540 Broadway as it grows its workforce to support the development of new products for drug discovery and materials science applications, including aerospace, energy, semiconductors, and electronics displays.
"The expansion of Schrödinger's headquarters will help to ensure that the future of science and medicine is built right here in New York State," Governor Hochul said. "With this investment, we're building on our commitment to the life sciences sector, advancing life-saving breakthroughs, and tapping our talented workforce to fill the jobs of tomorrow and further establish our state as the place where businesses want to be."
To support these efforts, Schrödinger has committed to creating at least 80 new jobs and retaining 310 full-time jobs as part of this expansion, supported by up to $1.4 million in performance-based Excelsior Jobs Program tax credits from Empire State Development. This supplements a previous ESD award of up to $2.1 million in performance-based Excelsior Jobs Program tax credits, which supported initial hiring at the company's New York City location.
Empire State Development President, CEO and Commissioner Hope Knight said,"Schrödinger's physics-based computational platform has played an important role in shaping the future of therapeutics. With this expansion, the company will help to shape New York City's future as a hub for scientific discovery, creating jobs and attracting the best and brightest minds in the industry."