Biden visiting New York with IBM poised to announce $20B program; what to know

  • In Politics
  • 2022-10-06 12:43:03Z

IBM is expected to announce a $20 billion initiative when President Joe Biden visits the company's Poughkeepsie facility Thursday afternoon.

President Joe Biden visits Fisherman
President Joe Biden visits Fisherman's Wharf in Fort Myers Beach, Fla.  

Here's what to know:

What's being announced?

IBM on Thursday is expected to announce a $20 billion investment over the next decade in the areas of research and development, semiconductor manufacturing, mainframe technology, artificial intelligence and quantum computing in the Hudson Valley, according to the White House, which noted "good-paying manufacturing jobs" would be created.

Details of the program, including the impact on local sites, is expected to be discussed.

The Poughkeepsie IBM site is where the z16 mainframe, a product which utilizes artificial intelligence, was tested and is manufactured. IBM also opened up the first Quantum Computation Center in Poughkeepsie in 2019.

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There are roughly 3,000 employees working at the plant from entry level to engineers.

IBM in a statement said it is "deeply honored" to host Biden and is looking "forward to highlighting our commitments to the innovations that advance America's economy."

Biden is also expected to discuss the bipartisan CHIPS and Science Act, which he signed in August and aims to boost domestic manufacturing of computer chips.

Biden's visit is expected to draw some notable Democrats. Congressmen Sean Patrick Maloney, Pat Ryan, and Paul Tonko are expected to be in attendance, as is Gov. Kathy Hochul.

What are Biden's plans?

The presidents' Poughkeepsie visit is part of a full day in the northeast.

After leaving Dutchess County, Biden is bound for Red Bank, New Jersey to attend a reception for the Democratic National Committee.

He'll then cap the day at a reception for the Democratic Senatorial Campaign Committee in New York City.

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This article originally appeared on USA TODAY: Biden's Poughkeepsie IBM visit expected to include $20B announcement


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