President Biden visits IBM to announce $20B investment in Hudson Valley

President Joe Biden visited the Hudson Valley Thursday for the announcement of a new $20 billion investment by IBM.
Biden took part in a Thursday afternoon announcement at the IBM facility in Poughkeepsie and held out the company's plans as part of what the White House says is a manufacturing "boom" spurred by this summer's passage of a $280 billion legislative package intended to boost the U.S. semiconductor industry and scientific research.
News 12 was the first to report this on Oct. 25. Click here to read more. 
The CHIPS and Science Act, which Biden signed into law in August, was a rare piece of legislation for which the president was able to win bipartisan support.
IBM says the goal of the investments, which will be strengthened by close collaboration with New York State, is to expand the vibrant technology ecosystem in New York that will unlock new discoveries and opportunities in semiconductors, high performance computing, hybrid cloud, artificial intelligence and quantum computing.
  • Thanks to the CHIPS and Science Act, IBM Poughkeepsie will directly benefit and be able to ensure a reliable and secure supply of next-generation chips for today's high-performance computing and artificial intelligence platforms.
  • The CHIPS and Science Act will also help fuel the future of quantum computing by accelerating research, expanding the quantum supply chain, and providing more opportunities for researchers to explore business and science applications of quantum systems.
  • IBM’s vision is for Poughkeepsie to become a global hub of the company’s quantum computing development, just as it already is today for mainframe
The IBM investment comes on the heels of chipmaker Micron announcing earlier this week an investment of up to $100 billion over the next 20-plus years to build a plant in upstate New York that could create 9,000 factory jobs.
AP wires were used in the report