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* Earlier this month. The Real Deal…
A hefty investment from Big Blue may be the tip of the iceberg that solidifies Illinois as a hub for quantum computing development, which could create more demand for industrial space.
Tech giant IBM is mulling an expansion in Chicago amid “continuously growing interest and investment in quantum computing” across the city and state, Crain’s reported.
The company is collaborating with the University of Chicago, University of Illinois Urbana-Champaign and the Bloch Quantum Tech Hub on several projects “to advance our timeline of bringing useful quantum computing to the world, and are looking forward to being a part of other significant developments soon,” Jay Gambetta, vice president of IBM Quantum, told the outlet.
The details of IBM’s potential expansion are scarce, but the company’s interest in ramping up its quantum computing operations is a big win for Gov. J.B. Pritzker, who’s been working to put Illinois at the forefront of this technological revolution. Last week, lawmakers approved Pritzker’s request for $500 million dedicated to quantum development, as well as specific tax breaks and other incentives for such projects.
* Today, from Bloomberg…
Gov. J.B. Pritzker has turned to a consortium that includes IBM and Discover Financial Services to help win federal funds to develop quantum technology.
The companies will work together with Boston Consulting Group and P33, a nonprofit started by the governor’s sister and former Secretary of Commerce Penny Pritzker, to develop quantum tools to fight financial fraud. The plan is part of a bid to win $70 million from President Joe Biden’s Tech Hubs program established as part of the 2022 Chips and Science Act. […]
Winning the federal money is key to helping fund Quantum Shield, the fraud-detection project that’s part of the Illinois Tech Hubs bid, said Brad Henderson, CEO of P33. The effort is unique because it seeks to use quantum technology, instead of binary traditional computers, to solve a real-world problem. Quantum technology relies on “qubits” and can store data in multiple forms — ones, zeros, both, or something in between. […]
The Biden administration designated 31 hubs last year, including Illinois’ The Bloch Tech Hub, making them eligible for up to $75 million each. Funding announcements are expected this summer. Henderson of P33 expects the results in the next four weeks or so. […]
Illinois has been trying to position itself as a hub for new technologies. Pritzker has made quantum a priority. The governor, often mentioned among the bench of Democrats who may one day wage a White House bid, this year passed a budget that includes $500 million to position the state as a leader in semiconductors, quantum and artificial intelligence.
posted by Isabel Miller
Tuesday, Jun 18, 24 @ 11:08 am
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IBM could not have picked better schools than U of C and U of I to move forward with this idea.
Comment by Back to the Future Tuesday, Jun 18, 24 @ 11:31 am
I think JB will have two big legacy accomplishments, navigating us through the pandemic and this. Fingers crossed on the fed funding and the designation.
Comment by levivotedforjudy Tuesday, Jun 18, 24 @ 11:42 am
Excellent development if carried out, but hoping that Champaign gets some jobs downstate as well rather than being entirely localized in Chicago.
Comment by TJ Tuesday, Jun 18, 24 @ 12:10 pm
And Lincoln gets the short end of the stick again
Comment by Rabid Tuesday, Jun 18, 24 @ 12:21 pm
JB should double down on attracting businesses to the 21st Century, since Republican states have become so backward.
Comment by Grandson of Man Tuesday, Jun 18, 24 @ 12:59 pm
@TJ
Blue Waters at Illinois leave it well positioned to take advantage of spill over from what could happen in Chicago. The area is already a hub on the education front and this should only make things better.
Comment by Cool Papa Bell Tuesday, Jun 18, 24 @ 1:20 pm