FOR IMMEDIATE RELEASE
Think Dutchess Alliance for Business
845-486-2565
www.thinkdutchess.com
February 1, 2023
IBM in Dutchess County Wins Corporate Investment Award for $20 Billion Investment in the Hudson Valley
Headquartered in New York, technology titan IBM was recently awarded Trade & Industry Development’s 2022 Corporate Investment/Community Impact Award (CiCi Awards) in the Corporate Investment category, recognized for its significant investment in Dutchess County.
For 17 years, the CiCi Awards has honored projects from all over the U.S. that bring extensive capital investment or influential community impact – or both – to help elevate their local communities. A leading publication dedicated to site selection for businesses, Trade & Industry Development establishes the Corporate Investment category to honor projects with large numbers in economic development investment and jobs created or retained. IBM in Dutchess County stood out from hundreds of competitive nominees, recognized for its $20 billion expansion plan invested across the Hudson Valley, New York region over the next 10 years.
Announced during a recent presidential visit to IBM’s Poughkeepsie facility, the $20 billion investment will boost IBM’s semiconductor manufacturing, mainframe technology and quantum computing capabilities with a special emphasis on turning its facility in Poughkeepsie, Dutchess County into a global hub of quantum computing. The investment also retains more than 7,500 jobs across the Hudson Valley, almost half of which are at IBM Poughkeepsie.
“This project will have an immense impact on New York’s Hudson Valley,” wrote Trade & Industry Development. “In Poughkeepsie, IBM builds state-of-the-art mainframe computers that power the global economy alongside cutting-edge quantum computing systems. IBM’s investment in Dutchess County and the Hudson Valley at large will benefit and sustain those capabilities, advancing the region’s manufacturing, research, quantum computing and semiconductor operations while bolstering the region’s position as a leader and an innovator in the industry.”
“With financial incentives and the recent passing of the Federal Chips Act and the NYS Green Chips Bill, businesses like IBM in Poughkeepsie are gaining more confidence in re-investing in the region,” said Sarah Lee, CEO of Think Dutchess. “We are excited to see how this investment will continue to drive economic growth and fuel job opportunities in Dutchess County.”
“IBM is deeply proud of our history and presence here in Dutchess County,” said Maria Boonie, Vice President of IBM Z Support & Client Care and Mid-Hudson Valley Senior Location Executive. “Over the next 10 years, IBM is investing $20 billion across the Hudson Valley to accelerate research and discovery in fields ranging from semiconductors and artificial intelligence to quantum computing. Those investments will create new opportunities for our team here in Poughkeepsie and keep us at the forefront of new eras in computing, just as we have been since our doors opened in this community more than 80 years ago.”
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About Think Dutchess Alliance for Business
Think Dutchess Alliance for Business is the one-stop shop for business development needs and activities in Dutchess County, New York. It’s a business-led, nationally recognized nonprofit organization and economic development corporation, whose mission is to attract, retain, and expand for-profit and not-for-profit businesses for the benefit of Dutchess County. Think Dutchess’ organizational structure includes programs in business retention and expansion, financial counseling and deal structuring, zoning, commercial real estate, innovation and technology, strategic marketing and municipal advocacy. For more information about Think Dutchess Alliance for Business, visit www.thinkdutchess.com.
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