CHICAGO, July 25, 2024 -- PsiQuantum today announced a far-reaching partnership with the State of Illinois, Cook County, and the City of Chicago to build the first US-based utility-scale, fault-tolerant quantum computer at the former US Steel South Works property in the City of Chicago. Under this agreement PsiQuantum will anchor the newly established Illinois Quantum and Microelectronics Park (IQMP) which will catalyze the state’s highly developed quantum ecosystem, including the University of Illinois Urbana-Champaign (UIUC), the University of Chicago, the Chicago Quantum Exchange, Argonne and Fermi national labs and DARPA, the US Department of Defense’s Advanced Research Project Agency and others.

The Illinois state budget for the fiscal year 2025 includes $500M committed to the development of the Quantum Park, including $200M for the build-out of a Cryogenic Plant to serve the cooling needs for PsiQuantum and other potential users. PsiQuantum will be the anchor tenant of the site with its Quantum Computer Operations Center spanning over 300,000 square feet and additional acreage for future expansion. PsiQuantum has also agreed with the State, Cook County, and the City of Chicago to a comprehensive package of incentives totaling more than $500M over 30 years to enable the company to rapidly move towards the build-out and commissioning of the Quantum Computing Operations Center.  

“Quantum computers have held theoretical promise for decades, but it’s infrastructure projects like the Illinois Quantum and Microelectronics Park that are required to develop this technology and scale from hype to reality. Governor Pritzker and Illinois understand what’s needed to unlock quantum computing’s potential, and we’re thrilled to partner with them and anchor the state’s quantum strategy with the first utility-scale quantum computer in the United States at this iconic location.” Said Prof. Jeremy O’Brien, PsiQuantum CEO & co-founder.

Governor J.B. Pritzker has prioritized making Illinois a leader in quantum computing, with the state securing several federal grants and committing significant resources from its state budget to make Illinois a global leader in quantum, including the newly announced Quantum Proving Ground Initiative in partnership with DARPA which will bring $280M to the IQMP and support the development and validation of utility scale quantum computing technologies and systems.  

“Considering the endless potential quantum computing technology holds, it is crucial that we commit to quantum partnerships, research, and infrastructure across our nation. In Illinois, we’re leading the charge with this first-of-its-kind quantum park to unite stakeholders, experts, and future generations of quantum leaders. I’m grateful that PsiQuantum will be our anchor tenant as we launch this exciting collaboration to create the jobs of the future, and PsiQuantum choosing Chicago cements our status as a global hub for quantum computing.” Said J.B. Pritzker.

In April 2024, the Australian Commonwealth and Queensland governments announced a $620 million USD financial package for PsiQuantum to build the first utility-scale, fault-tolerant quantum computer in Brisbane, Australia. PsiQuantum’s plans in Australia remain unchanged and the company recently announced new partnerships with top academic institutions in Queensland and growing operations in Brisbane.