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Area Development - Site Selection, Facility Planning and Workforce Development

Schrödinger Expands New York, New York, Research Operations

03/23/2023
Schrödinger Inc., whose physics-based computational platform is transforming the way therapeutics and materials are discovered, will expand operations at its headquarters in New York, New York. The $7.6 million project is expected to create 80 jobs.

The company 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, according to state officials.

"Our business sits at the intersection between computational sciences and biotechnology, and access to world-class talent is essential to our success.,” Schrödinger Chief Financial Officer Geoff Porges said. “We are grateful for the support of Governor Hochul and Empire State Development, who have been instrumental in helping us expand our footprint in the heart of New York City."

The project is being 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.

"Schrödinger's physics-based computational platform has played an important role in shaping the future of therapeutics,” noted Empire State Development President, CEO and Commissioner Hope Knight said. “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."

Schrödinger’s industry-leading computational platform facilitates the research efforts of biopharmaceutical and industrial companies, academic institutions, and government laboratories worldwide. The company also has wholly-owned and collaborative drug discovery programs in a broad range of therapeutic areas.

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