POUGHKEEPSIE – If all goes according to plan, IBM could have its new $2.5 billion quantum computing facility up and running at its Town of Poughkeepsie campus by 2031.
The Dutchess County Industrial Development Agency Wednesday approved the preliminary resolution for IBM to secure a payment-in-lieu-of-taxes plan and sales tax exemption for the project on South Road.
Company consultant Eric Stavriotis said this project would be what he called the first of the first.
“Our view is there are centers of excellence nationally that have emerged around quantum, where the specialization and technology are coming together,” he said. “This project would really position the Mid-Hudson Valley, and Poughkeepsie specifically, as the center of gravity for manufacturing quantum computers in the US.”
If the incentives are approved, company officials said they could break ground in November.
When operational, IBM, which currently has some 2,300 employees on the campus, could see another 200 to 300 more, with starting salaries ranging from $68,000 to $83,000 for technicians.
The next step in the incentive process is for the IDA to conduct a public hearing, followed by a final vote of approval.
The local government is onboard with the plans. Poughkeepsie Town Supervisor Rebecca Edwards previously told Mid-Hudson News the project will add to the town’s technological status around the country while boosting the local economy.
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