IBM Quantum Project Sparks Tax Concerns in Poughkeepsie

A $2.5 billion IBM quantum computing project is moving forward in Poughkeepsie, New York, but local school officials are raising concerns about a tax deal approved for the project.

The Dutchess County Industrial Development Agency approved over $100 million in sales tax exemptions and a 30-year Payment In Lieu Of Taxes agreement for IBM Quantum. The PILOT agreement means IBM will make negotiated payments instead of regular property taxes on the project, starting at around $1 million per year and increasing over time.

Spackenkill school officials have expressed concerns that the district is not getting enough under the deal. State Sen. Rob Rolison has spoken with the district superintendent and school board president, urging the IDA to address their concerns.