By The Financial District
Biden To Mark IBM Investment With Dems In Tough NY Races
President Joe Biden is ready to celebrate a new $20 billion investment by IBM in New York’s Hudson River Valley with two House Democrats running in competitive races in next month’s critical midterm elections, Aamer Madhani reported for the Associated Press (AP).
Photo Insert: The CHIPS and Science Act, which Biden signed into law in August, was a rare piece of legislation for which the President was able to win bipartisan support.
Biden is taking part in a Thursday afternoon announcement at the IBM facility in Poughkeepsie, New York.
He is expected to hold out the company’s plans as part of what the White House says is a manufacturing “boom” spurred by this summer’s passage of a $ 280 billion legislative package intended to boost the US semiconductor industry and scientific research.
Democrats facing tough midterms races have largely avoided appearing with Biden in the leadup to November’s elections. But Biden, whose approval ratings remain underwater, will be joined by two House incumbents in competitive New York races who are bucking the trend: Reps. Sean Patrick Maloney and Pat Ryan.
“When I heard @POTUS was looking to see the benefits of the CHIPS & Science Act first-hand, I told him that the Hudson Valley was the perfect place,” Maloney wrote on Twitter on Wednesday.
“I’m thrilled to host him in Poughkeepsie this week to celebrate the major wins and good-paying jobs we are delivering here in NY.”
The CHIPS and Science Act, which Biden signed into law in August, was a rare piece of legislation for which the president was able to win bipartisan support.
IBM’s $20 billion investment over the next decade is intended to bolster research and development and manufacturing of semiconductors, mainframe technology, artificial intelligence, and quantum computing in New York’s Hudson River Valley, according to the White House.
The IBM investment comes on the heels of chipmaker Micron announcing earlier this week an investment of up to $100 billion over the next 20-plus years to build a plant in upstate New York that could create 9,000 factory jobs, Michelle L. Price and Michael Catalini also reported for AP.
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