The U.S. Economic Development Administration (EDA) yesterday announced approximately $504 million in implementation grants to 12 Tech Hub-designated companies, including Colorado- and New Mexico-based Elevate Quantum (EQ), the lead organization for a collaboration aimed at strengthening the region’s global leadership in quantum information technology (QIT).
Authorized by the bipartisan CHIPS and Science Act, a key part of President Biden’s Invest in America policy, the Tech Hubs Program is a flagship effort to grow our economy by investing in communities across the country while advancing America’s global leadership in critical technologies, strengthening our national and economic security, and accelerating the growth of future industries across the United States with assets and resources that have the potential to be globally competitive in the technologies and industries of the future, and ensuring that those industries, companies, and the good jobs they create start, grow, and stay in the United States.
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EDA awards $40.5M to Elevate Quantum Tech Hub Mountain West secures $127M in state incentives and funding Officials estimate the grant will create more than 50 quantum startups, 10,000 new jobs and 30,000 skilled workers
The 12 tech hubs that will receive Phase 2 implementation funds were selected from the initial 31 designated tech hubs announced by President Biden in October 2023. The Elevate Quantum tech hub was awarded approximately $40.5 million as part of this funding round from the EDA. Overall, Elevate Quantum and the Mountain West secured $127 million, including $80 million in state incentives and funding from Colorado and New Mexico. EQ officials expect the awards will result in 50 quantum startups, $2 billion in private capital startup funding, the creation of more than 10,000 new jobs, 30,000 skilled workers, and major infrastructure projects throughout the Mountain West region by 2030.
Quantum technology will transform the 21st century information economy. It will do for the next half century what the Internet and semiconductors did for the past 50 years of technological advancement. Quantum technology will create $3.5 trillion in value and revolutionize nearly every sector of the economy. Quantum technology will accelerate advances in AI, climate tech, and healthcare, and address national security challenges from cyber to stealth. This award marks a landmark moment for quantum leadership in the region and a critical step toward ensuring U.S. momentum in the global race for quantum technology excellence. It further establishes the Mountain West region as an essential ecosystem for U.S. quantum leadership for the next 50 years.
“With more than 3,000 workers already in our commercial quantum ecosystem alone, and up to 80% of the jobs not requiring an advanced degree, the region is poised to scale quantum technologies and ensure a thriving and inclusive U.S. economy for future generations,” said Zachary Yerushalmi, CEO of Elevate Quantum.
“This Tech Hub designation is just the beginning for New Mexico’s quantum industry. Our state has a long history of innovation and adoption of cutting-edge technology, and quantum-enabled technologies have the potential to be the most transformative innovation of a generation.” – New Mexico Governor Michelle Lujan Grisham
New Mexico government officials demonstrated strong support for this federal grant, including a $5 million matching funding allocation from the state’s Technology Enhancement Fund, as well as significant leadership and funding commitments from the Governor’s Office that were included in the grant proposal for the planned creation of a photonics packaging facility and local workforce development, in addition to baseline support from the New Mexico Congressional Delegation.
New Mexico seeks to further its 80-year collaboration with Colorado as a leader in the quantum field and honor the state’s deep tradition in atomic physics. Through this award, EQ aims to build a state-of-the-art packaging facility to complement New Mexico’s world-class manufacturing capabilities and revitalize the local entrepreneurial and translational ecosystem. New Mexico also plays a leading role in the state’s quantum workforce plan, with workforce activities focused on urban, rural and tribal communities.
“This Tech Hub designation is just the beginning for New Mexico’s quantum industry. Our state has a long history of innovation and embracing cutting-edge technology, and quantum technology has the potential to be the most transformative innovation of a generation,” said New Mexico Governor Michelle Lujan Grisham. “I want to thank Governor Polis and his Colorado colleagues, as well as the Elevate Quantum team, for their hard work in positioning the Mountain West to be the quantum technology epicenter of the United States.”
Among other research, UNM’s Quantum Optics Institute is also conducting research into atom-photon interfaces for quantum memory and preparing quantum states for atomic ensembles.
EDA prioritized funding for three of EQ’s four development pillars, focusing on hardware adoption and manufacturing, workforce training, and EQ governance. Through these EQ pillars, New Mexico’s diverse population will receive unique training and expand participation in all regions of the state. The University of New Mexico, in collaboration with partners at Sandia National Laboratories (SNL) and Los Alamos National Laboratory (LANL), established the Quantum New Mexico Institute to bring together the state’s unique resources to realize the potential of a second quantum revolution. The EQ Tech Hub will be a multiplier factor that transcends QNM’s impact in today’s quantum economy. This funding will enable LANL, SNL, CNM, and UNM to build collaborative lab space to share with local startups and create the first-of-its-kind training program for quantum engineers at a community college.
“Elevate Quantum supports Sandia National Laboratories’ unwavering commitment to advancing the cutting edge of science and technology,” said Sandia National Laboratories Director James Peary. “Today’s announcement is a testament to our dedication to excellence and a critical step forward in protecting our national security. By actively participating in the development and deployment of quantum systems and cultivating and training a quantum-capable workforce, Sandia will ensure our nation remains at the forefront of this rapidly evolving field, propelling us forward into a new era of scientific achievement.”
“For more than 30 years, the University of New Mexico has been a pioneer in quantum information science research and education that is laying the foundations for quantum technologies,” said University of New Mexico President Garnett S. Stokes. “We are pleased to collaborate with our Mountain West partners through the Elevate Quantum Tech Hub, which will rapidly accelerate translational research and strengthen our national leadership in this important field.”
“The University of New Mexico and our state’s national laboratories have a long history in quantum science and engineering and have been the driving force behind many groundbreaking developments that will lead to new industries, businesses and jobs,” said University of New Mexico President and Vice Chancellor for Academic Affairs James Holloway. “We recently launched the Quantum New Mexico Institute to continue to advance our leadership. We are excited to continue collaborating with our friends across the state and in Colorado to advance the quantum economy, and the Elevate Quantum Tech Hub will help accelerate our efforts.”
“For more than 30 years, the University of New Mexico has been a pioneer in quantum information science research and education that is laying the foundation for quantum technologies. We are pleased to collaborate with our Mountain West partners through the Elevate Quantum Tech Hub, which will rapidly accelerate translational research and strengthen our national leadership in this important field.” – University of New Mexico President Garnett S. Stokes
The Tech Hub Program ensures that future industries, companies, and good jobs start, grow, and stay in the U.S. The program does this by investing in regional consortia (made up of businesses, universities, community colleges, nonprofits, and state and local governments) that are advancing important emerging technologies, including semiconductors, quantum computing, autonomous systems, biotechnology and biomanufacturing, clean energy, critical minerals, innovative materials, and advanced manufacturing.
“Quantum technologies have the potential to transform the modeling and simulation capabilities that are fundamental to our scientific and national security missions at Los Alamos National Laboratory and other agencies across the nuclear security enterprise,” said Los Alamos National Laboratory Director Tom Mason. “In a rapidly changing geopolitical environment, it is essential that our national laboratories remain at the forefront of quantum research and development. The creation of this technology hub marks a major step forward in our pursuit of leadership in this critical field.”
Developing the workforce of the future will be a key component of the EQ Consortium moving forward, and CNM will partner with community colleges and universities in the region to share insights and increase overall capacity in developing the quantum workforce.
“Central New Mexico Community College (CNM) is honored and excited to be at the forefront of developing a strong quantum technologist workforce that will support the economic growth of companies using quantum technologies in New Mexico, Colorado and Wyoming,” said CNM Chancellor Tracy Hartzler. “As a committed workforce training partner in the Elevate Quantum consortium, we look forward to partnering with quantum computing companies in the Mountain West and New Mexico’s two national laboratories to create immersive, hands-on training that will rapidly prepare and upskill learners for high-quality technologist careers in this rapidly evolving and transformative field.”
In tandem with the EDA award, Elevate Quantum unveiled the Quantum Commons Campus, a centrally located, 50+ acres of workspace dedicated to fostering the growth and success of the regional quantum ecosystem. Additional activities will take place in Colorado, New Mexico and Wyoming. The next step is expected later this month to be the formation of the Elevate Quantum Consortium, which will turn the blueprints into actual buildings.
This announcement marks the culmination of the second phase of the first iteration of the Tech Hubs Program, a flagship initiative aimed at advancing U.S. leadership in critical and emerging technologies and industries. The program’s first phase identified 31 tech hubs in geographically diverse, high-potential regions across the country with demonstrated expertise in emerging technology sectors.
To learn more, visit Elevate Quantum.
