Competition is heating up among states as they seek to become leaders in quantum technology, which could offer solutions to some of the world’s most complex problems.
Colorado and Illinois are among the first states to invest public resources in this emerging field that seeks to harness quantum physics to make more powerful computers and other technologies.
The growing focus on quantum as an economic development driver comes as states are jockey for position in the race for artificial intelligence.
“If you believe, as I do, that the future of computational technology will revolve around quantum computing, we want Colorado to be the hub of that with all of the know-how from the theoretical side to the manufacturing side,” said Colorado Gov. Jared Polis (D) in an interview.
Colorado already boasts four quantum science Nobel Prize winners, five of the top quantum companies and more than 3,000 quantum workers, according to Polis.
The governor signed legislation in May creating a $74 million refundable state tax credit and loan loss reserve program to support quantum technology development in Colorado.
Last month, Elevate Quantum, a federally designated tech hub that spans Colorado, New Mexico and Wyoming, was awarded an initial $40.5 million federal CHIPS Act grant to advance quantum research in the region. Contributions from Colorado and New Mexico will boost that investment to $127 million.
Elevate Quantum projects that the combination of state and federal spending will help create 10,000 jobs in the quantum industry by 2030 and drive $2 billion in private investment with the goal of making the Mountain West the “global leader for quantum innovation.”
Over the next decade, the regional consortium could be eligible for up to $1 billion in total federal funding.
“We have a leadership position already and we want to double down on that,” Polis said.
To read a transcript of the full Polis interview, click here.
New Mexico Gov. Michelle Lujan Grisham (D), whose state played a significant role in the development of nuclear science, shares Polis’s bullishness about quantum. She said last month it “could become the most game-changing innovation of this generation.”
Quantum researchers see opportunities to apply the subatomic particle technology beyond computing, including in improving communications and health care, among other sectors.
Quantum computers, which operate in quantum bits instead of ones and zeros, hold the promise of solving in a matter of seconds problems that current supercomputers might never solve.
In a “60 Minutes” interview last year, American physicist and futurist Michio Kaku used a maze analogy to explain quantum computing. He said regular computers must map every route to find the path through a maze while quantum computers can explore all the possibilities at the same time.
Companies like Amazon, IBM, Google and Microsoft are investing heavily in quantum computing, but many experts say it could be a decade or more before a “fault-tolerant” quantum computer is operational.
As the Mountain West ramps up investments in quantum technologies, it has competition from the Midwest.
The Chicago metro area is home to a second federally designated quantum tech hub known as The Bloch, which is focused on how quantum can bring “large-scale solutions to global problems” such as financial fraud, energy grid security and pharmaceutical breakthroughs.
The Bloch predicts it will generate $60 billion in economic impact and 30,000 jobs over the next decade.
Illinois Gov. JB Pritzker (D) and other elected officials announced last month the location of a new $500 million Illinois Quantum and Microelectronics Park on Chicago’s South Side.
The first tenant, lured with a $200 million incentive package, is PsiQuantum, a Silicon Valley-based company that says it is on a mission “to build and deploy the world’s first useful quantum computers.”
The site will also host a quantum computing testing and evaluation partnership between the Illinois and the Defense Advanced Research Projects Agency, which develops new technologies for national security.
“We are igniting a quantum revolution right here in Illinois,” Lt. Gov. Juliana Stratton (D) said in a statement accompanying the announcement. “This historic investment goes beyond building a quantum campus; it’s a launch pad for groundbreaking creativity and research. By positioning Illinois as a global leader in quantum technology, we are ensuring the resilience of our economy and promoting job opportunities for the future.”
Budget earmarks, federal grants, public-private partnerships and universities are also driving investments and research in quantum in Connecticut, Florida, Idaho, Indiana, Maryland, Massachusetts, Michigan, Mississippi, Montana, New York, Rhode Island, South Carolina, South Dakota, and Washington State.
While recent advancements in generative AI have stolen the spotlight, quantum is being touted as a breakthrough technology that will help catch cancers earlier, aid in efforts to combat climate change, and speed the development of new prescription drugs.
In June, the United Nations General Assembly designated 2025, the 100th anniversary of quantum mechanics, as the International Year of Quantum Science and Technology. The purpose of the designation is to increase “public awareness of the importance of quantum science and applications.”
McKinsey has projected that the automotive, chemicals, financial services and life sciences industries could gain $1.3 trillion in value by 2035 due to developments in quantum computing.
Quantum science also poses potential risks. A top concern is that quantum computers could be used by nefarious actors to break encryption codes used to protect banking, military or other sensitive information. This is popularly known as “Q-day.”
It raises both cybersecurity and national security concerns, which the Biden administration highlighted in a 2022 memorandum.
Polis said he believes the risks can be managed.
“Potentially, would it give a bad actor more capabilities? Yes. But if you are ahead of the curve on the defense side and you implement, across critical infrastructure, quantum computing-informed defense, it can actually enhance the defense and cybersecurity of our systems,” Polis said.
As states race each other, there is also a global competition is also underway as the U.S. and China compete for quantum supremacy.
The U.S. government has launched a National Quantum Initiative, while China is outspending both the U.S. and Europe on quantum computing research, according to McKinsey & Company.