Colorado battles Illinois to become nation’s quantum tech hub with $1B at stake

Colorado and Illinois are both vying to become the nation’s top hub for quantum Technology. With potentially $1 billion in federal support and a large amount of economic activity on the line, the competition is fierce. The CHIPS and Science Act, which directs $52 billion in federal dollars to boost U.S. competitiveness in semiconductors and advanced technologies, has the potential to further fuel the competition.

The Biden administration has announced $35 million in federal funding to BAE Systems to increase chip production for military aircraft in New Hampshire. Despite the expectation that Colorado will potentially gain new semiconductor plants with federal support, the state is more focused on obtaining a tech hub designation through the CHIPS Act.

$10 billion was authorized within CHIPS to support the development of up to 10 Technology hubs in fields such as AI, semiconductors, quantum, advanced manufacturing, disaster prevention, advanced communications, biotech, cybersecurity/blockchain, advanced energy, and materials. Zachary Yerushalmi, from Elevate Quantum, expressed the goal of creating new Silicon Valley-like tech hubs across the U.S.

Out of more than 400 applications, Elevate Quantum’s bid for a quantum tech hub in Colorado was successful. However, Illinois also has a competing quantum application. A second phase will further narrow down potential tech hubs eligible for between $40 million to $70 million from the $500 million appropriated for the program.

Colorado’s goal is to dominate an emerging quantum Technology industry. Starting in 2025, Elevate Quantum Labs aims to launch over 50 companies, draw more than $2 billion in capital investments, and train over 30,000 workers in Colorado, Wyoming, and New Mexico. Colorado also aims for leadership roles and jobs in the new companies to go to individuals from underrepresented groups.

Colorado has been a leader in quantum Technology, with researchers focusing on advancements in clock precision, interlocking lasers, and ion traps. The state is also working to create training programs to ensure there are enough technicians for the growing quantum industry. Colorado is collaborating with New Mexico and Wyoming to bring cutting-edge tech jobs to overlooked parts of the country.

The competition for the quantum tech hub designation rages on between Colorado and Illinois. Despite modest public support compared to Illinois, Colorado remains confident in its chances of securing the designation. The second phase of selection for tech hubs is set to take place in February, and it is expected that winners will be announced around the middle of the year.

Join Our Social Group For Latest News Updates

WhatsApp Group

Leave a Reply

Your email address will not be published. Required fields are marked *