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EAST FISHKILL, NY-New York State officials report that for agreeing to build a $2.5 billion semiconductor manufacturing plant at the Hudson Valley Research Center, IBM will receive a total of $475 million in wage, investment, employment, tax reduction and real property tax credits as well as sales tax exemptions.

In addition, state officials note “IBM will benefit from $28.75 million in state grants and loans, and is eligible for $156 million in sales tax and local benefits/exemptions.”

State officials say the increased Empire Zone incentives made available to company “substantially enhanced New York State’s position against aggressive incentive packages from competing states and countries.”

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