IBM Seeks $2.5 Billion Tax Break for Quantum Computing Facility

IBM is seeking a payment in lieu of taxes (PILOT) from the Dutchess County Industrial Development Agency Board for its proposed $2.5 billion quantum-computing facility at the IBM campus in Poughkeepsie.

The company made its initial presentation in July, but no action was taken pending a feasibility study, which has now been completed.

IBM is also seeking a sales tax exemption on materials for the massive project.

Once the IDA board approves a preliminary resolution for the incentives, a public hearing will be held followed by a formal vote to approve the proposal.