IBM plans to invest $20 billion in the Hudson Valley Region
IBM plans to invest USD 20 billion across the Hudson Valley region over the next 10 years. The goal of the investments, which will be strengthened by close collaboration with New York State, is to expand the technology ecosystem in New York.
With this move, IBM says it aims to unlock new discoveries and opportunities in semiconductors, computers, hybrid cloud, artificial intelligence and quantum computers.
President Joseph R. Biden, Jr. joined IBM Chairman and CEO Arvind Krishna on a tour of IBM's Poughkeepsie, New York site to see firsthand where the future of computing is being innovated, designed and manufactured.
"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," says Arvind Krishna in a press release.
President Biden's visit to the IBM Poughkeepsie site highlights the CHIPS and Science Act's unique opportunity to advance American innovation and manufacturing. The technology that IBM delivers today from Poughkeepsie will directly benefit from the CHIPS and Science Act that the President recently signed into law.
In Poughkeepsie, IBM builds mainframe computers that power the global economy. The site also is home to IBM's first Quantum Computation Center – where a large number of real quantum computers run in the cloud. IBM's vision is for Poughkeepsie to become a global hub of the company's quantum computing development, just as it is today for mainframes.