The Illinois Governor’s office has revealed plans to convert the former U.S. Steel Works plant on Chicago’s South Side into a quantum computing facility.
According to the announcement, the state of Illinois and Cook County have partnered with California-based company PsiQuantum to establish the Illinois Quantum and Microelectronics Park (IQMP) on a long-abandoned lakefront site.
The state is investing $500 million to develop the Quantum Park, with $200 million of that reportedly earmarked for a cryogenic cooling facility.
PsiQuantum will be the plant’s anchor tenant, occupying 300,000 square feet of space.
PsiQuantum will reportedly further support the project through research partnerships with the University of Chicago, the University of Illinois at Chicago, Northwestern University, and the University of Chicago at Urbana-Champaign.
PsiQuantum projects the development will create 150 jobs in Chicago within the next five years.
The project marks a win for Gov. JB Pritzker and the Johnson Administration ahead of the Democratic National Convention in Chicago.
The development will revitalize the struggling South Shore community and contribute to pioneering technological innovation.
“This monumental project will revolutionize the healthcare and clean energy sectors, create countless jobs and spur economic growth.
“Together, we will bring a new era of innovation, equity and sustainability to the South Side and solidify Chicago’s position as a global hub for technological advancement,” Mayor Brandon Johnson said in a statement.
According to IBM, quantum computing is a revolutionary emerging technology that harnesses the principles of quantum mechanics to tackle complex problems that are beyond the capabilities of classical computers.
The technology has the potential to help overcome some of the world’s biggest challenges, from cancer research to climate and energy solutions.
“Given the limitless possibilities that quantum computing technology holds, it is vital that we engage in quantum partnerships, research and infrastructure across the country.
“Illinois is leading the effort to open this first-of-its-kind quantum park, bringing together stakeholders, experts and a future generation of quantum leaders,” Governor JB Pritzker said in a statement.
“We are pleased to have PsiQuantum as our anchor tenant as we begin this exciting collaboration to create the jobs of the future, and their choice of Chicago solidifies our position as a global hub for quantum computing.”
