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 you know, we face, you know, 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.
