Alcon has gone on the record stating that while Harrison Ford's character won't be returning to the film, that it is indeed a sequel, that will take place many years from where the original left off. It is said that Scott and Fancher intended all along to make "Blade Runner" a series of films.
The film will be produced by Scott along with Alcon co-founders Broderick Johnson and Andrew Kosove, as well as Bud Yorkin and Cynthia Sikes Yorkin.