The U.S. Economic Development Administration (EDA) announced approximately $504 million in implementation grants to 12 Tech Hubs designees, including Elevate Quantum (EQ), the lead agency of a Colorado-New Mexico-based collaboration focused on quantum information technology (QIT).
The Tech Hubs Program, authorized by the bipartisan CHIPS and Science Act, is a key initiative under President Biden’s Investing in America agenda. The program aims to invest in communities across the country, advancing America's leadership in critical technologies and fostering economic growth.
Among the highlights of this funding round:
- EDA awarded $40.5 million to Elevate Quantum Tech Hub.
- Mountain West secured $127 million in state incentives and funds.
- Officials estimate the award will result in over 50 quantum startups, 10,000 new jobs, and 30,000 skilled workers by 2030.
Elevate Quantum was one of 12 Tech Hubs chosen from an initial pool of 31 Designated Tech Hubs announced by President Biden in October 2023. EQ received approximately $40.5 million from the EDA as part of this funding round. Including committed state incentives and funds from Colorado and New Mexico, EQ and Mountain West secured a total of $127 million.
Quantum technology is expected to transform various sectors of the economy over the next half-century. It has the potential to unlock $3.5 trillion in value and revolutionize fields such as AI, climate tech, healthcare, and national security.
“With over 3,000 workers already in our commercial quantum ecosystem alone – and up to 80 percent of jobs not requiring advanced degrees – our region is shovel-ready for scaling quantum technologies to ensure a thriving and inclusive American economy for generations to come,” said Elevate Quantum CEO Zachary Yerushalmi.
New Mexico Governor Michelle Lujan-Grisham expressed optimism about the state's role: “This Tech Hub designation is only the beginning for the quantum industry in New Mexico... It’s possible that Quantum-enabled technology could become the most game-changing innovation of this generation.”
Government officials in New Mexico have shown strong support for this federal grant beyond contributions from the New Mexico Congressional Delegation. This includes an allocation of $5 million from the state’s Technology Enhancement Fund.
EQ aims to complement world-class fabrication capabilities with a state-of-the-art packaging facility in New Mexico. The University of New Mexico (UNM) launched the Quantum New Mexico Institute alongside Sandia National Laboratories (SNL) and Los Alamos National Laboratory (LANL) to leverage state resources for quantum advancements.
“Elevate Quantum shares Sandia National Laboratories’ unwavering commitment to advancing the frontiers of science and technology,” said Sandia National Laboratories Director James Peery.
“For over 30 years, The University New Mexico has been a pioneer in research and education in Quantum Information Science that lays the foundation for quantum technologies,” said UNM President Garnett S. Stokes.
The Tech Hubs Program aims to ensure that future industries start, grow, and remain within the United States by investing in regional consortia advancing critical technologies like semiconductors, quantum computing, autonomous systems, biotechnology, clean energy, innovative materials, and advanced manufacturing.
“Quantum technology has the potential to transform modeling and simulation capabilities... In a rapidly shifting geopolitical environment... it’s imperative that America’s national labs remain at the forefront of quantum R&D,” said Thom Mason, Lab director at Los Alamos National Laboratory.
Central New Mexico Community College (CNM) will play a key role by partnering with regional institutions to enhance capacity for quantum workforce training.
“Central New Mexico Community College (CNM) is honored...to be on the leading edge of developing a robust quantum technician workforce...” said CNM President Tracy Hartzler.
Alongside these developments, Elevate Quantum announced The Quantum Commons Campus—a centrally located space dedicated to growing its regional quantum ecosystem—with activities planned across Colorado, New Mexico, and Wyoming.
For more information about Elevate Quantum's initiatives or other details regarding this announcement visit their official website.