Chicago is poised to become a leading hub for quantum technology and innovation.
The recent announcement of the PsiQuantum campus site in South Chicago, formerly the home to U.S. Steel—a symbol of American industrial power—represents the city’s rich industrial heritage and it’s bright future.
Thanks to the support of government, research institutions, and universities, as well as major investment from the private sector, the potential for Chicago to be a dominant global player in quantum is clear — going forward, entrepreneurs working on quantum technology can attract top talent, investors, customers, and partners right here in Chicago.
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FAQ'S
- What is a Quantum Computer? Quantum computers use quantum bits (qubits), which allow for faster processing of complex data compared to conventional computers.
- Why is this significant? Quantum computing has potential applications in various fields such as climate, healthcare, finance, energy, agriculture, transportation, and communications.
- What are the requirements for quantum computing? Quantum computers require extremely cold temperatures for operation (nearly absolute zero) and large, specialized facilities.
5 Reasons for Quantum in Chicagoland
- Economic Impacts:
- Quantum tech could generate $50-$65 billion for Chicagoland over the next decade.
- It will create 175,000 quantum-specific and quantum-related jobs.
- Globally, quantum is expected to have a $2 trillion impact by 2035.
- Industry Early Adopters:
- Quantum aligns with Chicagoland’s key industries: sustainable energy, life sciences, financial services, logistics, insurance, manufacturing, and professional services.
- Workforce and Talent Pipelines:
- Chicagoland has a strong and growing talent pipeline with 11,838 related jobs as of 2023, projected to increase by 8% by 2028.
- The region ranks #3 nationally for physicists and materials scientists.
- In 2023, Illinois awarded 6,747 quantum-related STEM degrees.
- Research & Development:
- Chicagoland is a national leader in quantum R&D, anchoring the “Quantum Prairie.”
- The region was designated a U.S. Tech Hub for quantum technology under the CHIPS and Science Act.
- The Chicago Quantum Exchange accesses the most PhD candidates in the U.S. for quantum research.
- Home to Fermi National Accelerator Laboratory and Argonne National Laboratory, which launched Q-NEXT.
- Major companies like IBM and other quantum-focused firms are eyeing Chicagoland.
- The area houses 12 quantum computing and sensing companies out of 155 nationwide.
- Government Commitment:
- Illinois has proposed $500 million to advance beyond silicon quantum technology, enhancing the state’s leadership in the semiconductor industry, quantum computing, and AI.
Thank You
Acknowledgments
In our recent efforts to support the development of a new quantum technology hub in the city and region, we have witnessed an extraordinary collaborative effort, reflecting the dedication and spirit of our area’s leaders and organizations. This ambitious initiative has greatly benefited from the input and insight of numerous key stakeholders and business partners.
We extend our deepest gratitude to our board members for their vision and leadership in guiding this project forward. Special thanks go to our civic, business, and governmental partners, whose unwavering support and expertise have been crucial to this endeavor.
World Business Chicago Board of Directors
- Avoq – Eric Sedler
- Cabrera Capital Markets, LLC – Martin Cabrera
- ClayCo – Michael Fassnacht
- ComEd – Gil C. Quiniones
- Croke, Fairchild, Duarte, and Beres, LLC – David Reifman
- CS Insurance Strategies – Charles Smith
- Foley and Lardner, LLP – Frank E. Pasquesi
- Gensler – Grant C. Uhlir
- Grant Thornton – Arla Lach
- Nicor Gas – Wendell Dallas
- Related Midwest – Curt R. Bailey
Business Partners
- P33 Chicago – Brad Henderson
- Greater Chicagoland Economic Partnership
- Illinois Manufacturing Association – Mark Densler
- Illinois Manufacturing Excellence Center – David Boulay, Ph.D.
- Intersect Illinois – John Atkinson, Dan Seals, and team
- University of Illinois Systems
- Lamar Johnson Collaborative – Kapil Khanna, Lisa Dziekan and team
Civic & Governmental Agencies
- City of Chicago. 7th Ward, Alderman Gregory I. Mitchell
- City of Chicago, 10th Ward, Alderman Peter Chico
- City of Chicago, Department of Buildings & Zoning – Commissioner Marlene Hopkins
- City of Chicago, Department of Planning & Development – Commissioner Ciere Boatright
- City of Chicago, Department of Water Management – Commissioner Randy Connor
- City of Chicago, Department of Transportation – Commissioner Tom Carney
- City of Chicago, Mayor’s Office of Economic & Neighborhood Development – Deputy Mayor Kenya Merritt
- Cook County Assessor – Fritz Kaegi
- Cook County Government – President Toni Preckwinkle
- State of Illinois – Office of Governor JB Pritzker
- State of Illinois – Department of Commerce & Economic Opportunity
Meet the Team
Dedicated to Quantum
World Business Chicago is dedicated to convening economic development interests, facilitating partnerships, and guiding interested investors and businesses toward quantum opportunities. Our staff is here to help, answer questions, and direct you to the resources you need.