RESEARCH TRIANGLE PARK – IBM says it will announce plans to invest $20 billion in New York today during a visit by President Joe Biden to its operations in Poughkeepsie.
“IBM is deeply honored to host President Biden at our Poughkeepsie site today and we look forward to highlighting our commitments to the innovations that advance America’s economy,” Arvind Krishna, Chairman and CEO of IBM, said, said in a statement. “As we tackle large-scale technological challenges in climate, energy, transportation and more, we must continue to invest in innovation and discovery – because advanced technologies are key to solving these problems and driving economic prosperity, including better jobs, for millions of Americans.”
No mention was made of any possible investments in North Carolina.
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Big Blue says the investments over 10 years will focus on unlocking “new discoveries and opportunities in semiconductors, computers, hybrid cloud, artificial intelligence and quantum computers.”
The tech giant, which owns Raleigh-based Red Hat and operates a huge campus in Research Triangle Park, also says it will be by what it calls “close collaboration with New York State.”
New York landed a semiconductor plant from Durham-based Wolfspeed through in part broad state incentives. New York also will be the site of a new semiconductor plant from US-based Micron.
IBM notes that it already has some 7,500 employees across the Hudson Valley region and says it has “long called New York state home.”
The company also is looking to cash in on the recently passed CHIPS act that means more than $50 billion in incentives for the semiconductor industry in the U.S. IBM’s chip development efforts are based in New York.
Read the full announcement online: https://newsroom.ibm.com/2022-10-06-IBM-and-CEO-Arvind-Krishna-Welcome-President-Biden-to-Poughkeepsie-Site,-Company-Plans-to-Invest-20-billion-in-the-Hudson-Valley-Region-Over-10-Years
