IBM invests $20 billion in New York's Hudson Valley region

International Business Machines Corporation announced plans to invest $20 billion in the Hudson Valley over the next decade. The company also said that President Joe Biden was invited for a tour of its facility in Poughkeepsie, New York. 

According to IBM, the goal of the investment is to expand New York's dynamic technology ecosystem, make new discoveries and create new opportunities through semiconductors, computers, hybrid clouds, artificial intelligence and quantum technologies.

IBM has over 7,500 jobs in the Hudson Valley in New York State. The company said it will directly benefit from the Generating America's Healthy Semiconductor Incentives Act, which will ensure a secure supply of next-generation chips for its computers and artificial intelligence platforms. Poughkeepsie is home to the first IBM Quantum Computation Center.