POUGHKEEPSIE – Now that Global Foundries has taken over the IBM East Fishkill facility, the payments-in-lieu-of-taxes agreement the Dutchess County Industrial Development Agency had with Big Blue has ended.
IDA Chairman Charles Daniels said the arrangement was terminated at the behest of Global Foundries.
“There had to be incentive agreements terminated because Global Foundries did not want to enter into a PILOT with the local municipalities – they are paying full taxes on it,” Daniels said. “Since IBM is no longer the owner, there were some legal documents that had to be executed before they legally could turn title to Global Foundries. Now that they have, we have terminated the incentive agreement on the now-Global Foundries site.”
This summer, IBM transferred the property to Global Foundries.
