IBM announced, Thursday, it will invest $20 billion across the Hudson Valley region over the next 10 years. The investments will help expand the technology ecosystem in New York and unlock discoveries and opportunities in semiconductors, computers, hybrid cloud, artificial intelligence, and quantum computers, a news release from IBM stated. Currently, IBM employs more than 7,500 jobs across the Hudson Valley which has been a hub of innovation and manufacturing.
President Biden and Governor Hochul were part of Thursday's announcement.
“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,” said IBM Chairman and CEO Arvind Krishna.
The technology IBM creates in Poughkeepsie will directly benefit from the CHIPS and Science Act that President Biden recently signed into law, ensuring a reliable and secure supply of next-generation chips for today's computers and artificial intelligence platforms, the release stated.
The IBM Poughkeepsie site was created in 1941, manufacturing armaments during World War II, and developing and building the latest generation mainframe computers. In Poughkeepsie, IBM currently builds state-of-the-art mainframe computers that power the global economy, while also housing 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, IBM said.