Mountain West Secures $125M to Lead Global Quantum Tech Innovation, Create 10,000 Jobs
July 4, 2024Colorado's Elevate Quantum, in partnership with New Mexico, has secured a $41 million grant from the U.S. Economic Development Administration to advance the quantum information technology sector.
Total investment in the Elevate Quantum Tech Hub exceeds $125 million, with contributions from Colorado ($74 million) and New Mexico ($10 million).
The initiative aims to establish the Mountain West region as a global leader in quantum technology, focusing on commercial-ready applications and building a skilled workforce.
The Tech Hub will leverage regional expertise, national laboratories, and private sector partnerships to accelerate the commercialization of quantum technologies.
Key focus areas include sensing, computing, networking, and hardware.
A quantum information technology fabrication and laboratory facility for translational research and workforce development will be established in New Mexico.
The initiative targets the creation of 10,000 jobs and training 30,000 skilled workers in the region.
The Tech Hub emphasizes inclusivity and diversity, focusing on underprivileged communities.
Governor Polis, New Mexico officials, and federal representatives played crucial roles in securing the funding, underscoring the importance of investing in emerging technologies to drive economic growth and maintain America's tech leadership.
Summary based on 7 sources
Get a daily email with more Tech stories
Sources
The Denver Post • Jul 2, 2024
Infusion of $127M boosts bid by Colorado tech hub to be “Silicon Valley” of quantumColorado Public Radio • Jul 2, 2024
Colorado Quantum Tech Hub getting $40.5 million infusion of federal fundsU.S. Economic Development Administration
Elevate Quantum Tech Hub | U.S. Economic Development AdministrationDenver Gazette • Jul 2, 2024
Colorado’s quantum tech hub beats Illinois for coveted federal award