Town to get millions for IBM Quantum project - Mid Hudson News

TOWN OF POUGHKEEPSIE – The proposed IBM Quantum computing facility at the existing IBM campus on South Road (Route 9) in the town has become a financial windfall worth millions of dollars for the town. The $54 million IBM has agreed to pay the town is separate from the Payment in Lieu of Taxes (PILOT) application that IBM submitted to the Dutchess County IDA. If approved on Tuesday, the PILOT will require IBM to pay Dutchess County, the Town of Poughkeepsie, and the Spackenkill Union Free School District a set amount instead of annual taxes.Town Supervisor Rebecca Edward told Mid-Hudson News that her team negotiated with IBM for several months to reach an agreement regarding the property’s valuation. The resulting agreement will have IBM paying the town $1.8 million per year for the next 30 years.“The agreement,” Edwards said, “gives us (the town) a clear sense that IBM is willing to partner with us in covering the much-needed capital projects the town is undertaking.” The town is slated to convert the current town hall into a new police headquarters, including an addition to house the town court. Town Hall is moving to a building on the Poughkeepsie Day School (PDS) campus. This past Saturday, the town officially opened the PDS gym building it purchased for use as a town gym and community center.“We are using the money ($54 million) for taxpayer protection,” Edwards said, noting that it will be earmarked to specifically cover the costs associated with the existing capital projects plans for the new police and court facility.Get daily news updates right in your inbox. Unsubscribe at any time.Serving New York’s Hudson Valley and Catskill for over 25 YearsWe’re the news source where other reporters get their newsContact InfoNewsroom:news@midhudsonnews.comnews@statewidenews.comAdvertising:ads@midhudsonnews.comNewsrooms AddressesOne Civic Center PlazaPoughkeepsie, NY 12601 Copyright 2026 © NY Newswire LLC | All rights reserved. Site built by Systemagic