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“Illinois is on a mission to be at the center of this industry.
We’re one of the few states in the nation to develop, actualize
and invest in a plan for the quantum future,” Pritzker said.
EeroQ CEO Nick Farina said quantum computing is the world’s next
great technology.
“We are building a new type of computer chip that looks very
similar to your existing computer chip, that will eclipse
today’s fastest supercomputers,” Farina said.
EeroQ designs processors, or qubits, for quantum computers,
using technology developed at Michigan State University that
involves using liquid helium as well as traditional chip-making
technologies.
Farina announced EeroQ’s participation in the taxpayer-funded
EDGE for Startups and INVENT programs.
Illinois EDGE for Startups offers tax credits for new hires,
retained jobs and training costs, plus additional credits in
underserved areas.
Illinois Innovation Venture Fund (INVENT) is funded by the U.S.
Department of the Treasury’s State Small Business Credit
Initiative and administered by the Illinois Department of
Commerce and Economic Opportunity.
Pritzker’s budget for fiscal year 2025 allocated $500 million to
fund quantum research initiatives.
In July, PsiQuantum announced that state, county and city
governments offered a combined incentive package worth more than
$500 million over 30 years for the company to set up at the
Southeast Side campus.
Pritzker said the state’s investment in quantum computing will
bring an influx of capital to Illinois.
“These programs that we have developed in Illinois are a crucial
part of our economic development strategy, helping us attract
and support startups that choose to locate in our state,” the
governor said.
Pritzker explained why the state is offering quantum companies
hundreds of millions of dollars in tax incentives.
“Quantum computing has the potential to unlock scientific and
technological advances previously thought impossible,” Pritzker
said. |
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