Palo Alto-based startup PsiQuantum is coming to Chicago to build and operate quantum computers, creating up to 150 jobs over the next five years and becoming the home of a massive quantum campus being built on the former U.S. Steel South Works factory site on Chicago’s south side, the company announced July 25.
PsiQuantum aims to build the first utility-scale, fault-tolerant quantum computer in the United States and plans to build a 300,000-square-foot quantum computing operations center on a long-vacant industrial site near the mouth of the Calumet River. The campus, known as the Illinois Quantum Microelectronics Park, will also include the multi-million-dollar Illinois DARPA Quantum Test Site, which was announced July 16.
PsiQuantum is a corporate partner of the Chicago Quantum Exchange, a University of Chicago-based hub connecting leading universities, national laboratories and industry partners to advance quantum technologies.
“Given the limitless possibilities that quantum computing technology holds, it is critical that we focus on quantum partnerships, research and infrastructure across the state,” Illinois Governor JB Pritzker said Thursday. “In Illinois, we are leading an effort to bring together stakeholders, experts and the next generation of quantum leaders in our first-of-its-kind quantum park. We are pleased to have PsiQuantum as our anchor tenant as we launch 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.”
“When economists study healthy innovation ecosystems, they always find that at the center of them is a combination of great research institutes and universities,” University of Chicago President Paul Alivisatos said at a press conference Thursday. “By working together, we can work with PsiQuantum to further build the ecosystem around us.”
This development is the latest in a series of high-profile wins in the regional quantum ecosystem that the Chicago Quantum Exchange (CQE) has helped to build. Launched in 2017 as an intellectual hub for the science and engineering of quantum information, CQE has played a key role in connecting academic, industry, and government partners to advance research, train the quantum workforce of the future, and develop a robust, inclusive and sustainable quantum economy.
“We are pleased to welcome CQE’s partner PsiQuantum to our vibrant region and look forward to the company and DARPA locating at our new quantum campus on Chicago’s south side,” said David Awschalom, the Liew Family Professor of Molecular Engineering Physics at the University of Chicago and director of the Chicago Quantum Exchange. “The quantum campus is an example of what an ecosystem can accomplish with strong government support and a culture of collaboration and partnership. CQE has played a leading role in launching and developing this rich interdisciplinary community over the past decade, and we will continue to partner with industry leaders to integrate quantum technologies into a variety of sectors as technology advances.”
Pritzker has been a key advocate of the effort, allocating $500 million for quantum technology in the state’s fiscal 2025 budget, much of which will go toward a campus that will include cryogenic facilities, instrument labs and research space shared by both private companies and the university.
PsiQuantum has partnered with CQE members and affiliates University of Illinois at Urbana-Champaign, University of Chicago, University of Illinois at Chicago and Northwestern University to collaborate on research projects and explore opportunities to develop educational programs in quantum applications. Founded in 2015, PsiQuantum uses single particles of light, or photons, as the basis of its quantum computing technology. The approach allows it to leverage the existing reliability, quantity and precision of standard semiconductor manufacturing processes and cryogenic cooling technology, the company said.
Building on impact
The Chicago region has already attracted more than $1 billion in government investments in quantum technologies in recent years, including $500 million in the Illinois fiscal year 2025 budget and a pre-announced $200 million for a quantum technologies facility. Additionally, Pritzker recently announced a business development package that includes quantum tax incentives. The Chicago region has also received $280 million for four of the 10 National Quantum Initiative Act research centers, more than any other region. The CQE community has also attracted significant corporate investments, including $100 million from IBM and $50 million from Google to the University of Chicago and the University of Tokyo in two separate plans to advance quantum computing.
Last week, Pritzker and federal officials announced that Illinois would partner with the Defense Advanced Research Projects Agency (DARPA), a Defense Department agency that invests in breakthrough technologies for national security, to establish a quantum testing site on the Quantum Campus.
The campus is expected to provide a significant boost to the economy of Chicago’s South Chicago neighborhood, projected to create thousands of jobs and generate up to $60 billion in economic impact.
“PsiQuantum’s investment in the City of Chicago marks a groundbreaking leap into the future, making the City the proud home of America’s first utility-scale quantum computer,” said Mayor Brandon Johnson. “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, solidifying Chicago as a global hub for technological advancement.”
CQE is based at the University of Chicago’s Pritzker School of Molecular Engineering and includes seven member institutions: University of Chicago, the U.S. Department of Energy’s Argonne National Laboratory and Fermi National Accelerator Laboratory, University of Illinois at Urbana-Champaign, University of Wisconsin-Madison, Northwestern University, and Purdue University, as well as approximately 50 companies, international organizations, nonprofits, and regional partners. CQE also leads two projects aimed at strengthening the region’s quantum ecosystem: the Bloch Quantum Tech Hub and the NSF Engine Development Award: Advancing quantum technologies in the Midwest.
—Excerpted from article originally posted on Chicago Quantum Exchange
