U.S. President Joe Biden walks out from the White House in Washington, D.C. before his departure to Poughkeepsie, N.Y. to tour IBM on Thursday. Photo by Yuri Gripas/UPI | License Photo
Oct. 6 (UPI) — President Joe Biden will travel to Poughkeepsie, N.Y. to tout IBM’s announcement that it plans to invest $20 billion across the Hudson Valley on research and development initiatives over the next 10 years. It’s the second big-money announcement for jobs in New York state this week. On Tuesday, tech company Micron said it will build a $500 million semiconductor fabrication facility in New York. Advertisement
The IBM and Micron announcements highlight the recently signed Creating Helpful Incentives to Produce Semiconductors and Science Act, also known as CHIPS, that Biden signed into law in August, which provided financial incentives for companies to build semiconductors critical to many components today in the United States.
Biden is expected to make his remarks at about 2 p.m., EDT.
“IBM is deeply honored to host President Biden at our Poughkeepsie site today and we look forward to highlighting our commitments to the innovations that advance America’s economy,” Arvind Krishna, chairman and CEO of IBM, said in a statement.
“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.”
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IBM said its Poughkeepsie site has manufactured armaments during World War II and developed the latest generation of mainframe computers. It also builds state-of-the-art 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 said in a statement. “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.”
The Poughkeepsie plant is home to about 3,000 workers while IBM hires more than 7,500 employees throughout the region.
Biden to join IBM executives in New York to tout new tech investments
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