Tech company IBM was approved Tuesday morning for a 30-year agreement to build its next-generation quantum-computing facility at its Poughkeepsie campus.
Dutchess County Legislator Kristofer Munn, who was at the Dutchess County Industrial Development Agencies’ meeting on Tuesday said IBM’s $2.5 billion project is very welcome.
“The project will have a positive impact on the Hudson Valley, economically," Munn said.
Still, Munn said he wished IBM could contribute more in taxes and benefits.
“They're not a struggling entity by any means," Munn said. "But the reality is that we face a competition with other states.”
According to Town of Poughkeepsie Supervisor Rebecca Edwards, IBM will pay almost $1 million per year in taxes until 2032 as part of the deal and then pay about $1.3 million a year, which will slowly increase.
The facility at 2455 South Road in the town of Poughkeepsie will use chips made in Albany to be added to components manufactured in Poughkeepsie, Edwards said.
