IBM's $2.5 Billion Poughkeepsie Project Sparks Tax Deal Concerns

A $2.5 billion IBM quantum computing project is underway in Poughkeepsie, New York. The company plans to build a major center for next-generation quantum computing at its campus on South Road in the Town of Poughkeepsie.

The Dutchess County Industrial Development Agency approved tax incentives for the project, including over $100 million in sales tax exemptions and a 30-year Payment In Lieu Of Taxes agreement. Under this agreement, IBM will make negotiated payments instead of paying regular property taxes on the project.

Spackenkill school officials have raised concerns about the deal, stating that the district is not getting enough under the terms of the PILOT agreement. State Sen. Rob Rolison has spoken with the district superintendent and school board president, urging the IDA and other parties to address their concerns.