EDA announces $504 million in funding to 12 designated tech hubs across America

The U.S. Economic Development Administration (EDA) announced yesterday 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 that seeks to solidify the region's global leadership in quantum information technology (QIT).

The Tech Hubs Program, authorized by the bipartisan CHIPS and Science Act, a key part of President Biden's Investing in America agenda, is a flagship initiative to invest and grow the economies in communities across the country while advancing America's global leadership in critical technologies, strengthening national and economic security and accelerating the growth of industries of the future in regions across the United States with assets and resources with the potential to become globally competitive in the technologies and industries of the future-and for those industries, companies, and the good jobs they create, to start, grow, and remain in the United States.

The 12 Tech Hubs slated to receive Phase 2 implementation funding were chosen from the initial 31 Designated Tech Hubs that President Biden announced in October 2023. The Elevate Quantum Tech Hub was awarded approximately $40.5 million as part of this funding round by the EDA. Overall, Elevate Quantum and the Mountain West secured $127 million, including $80 million in committed state incentives and funds from Colorado and New Mexico. By 2030, EQ officials anticipate this award will lead to 50 quantum startups, $2 billion in private capital startup funding, the creation of over 10,000+ new jobs, and 30,000 skilled workers and extensive infrastructure projects throughout the Mountain West region.

The information economy of the 21st century will be transformed by quantum technology. What the internet and semiconductors were to the last 50 years of technological progress, quantum technology will be in the next half-century. Quantum technology will unlock $3.5 trillion in value and revolutionize nearly every sector of the economy. It will accelerate progress in AI, climate tech, healthcare, and address national security challenges from cyber to stealth. The award is a landmark moment for quantum leadership in the region and a vital step to securing America's momentum in the global race for quantum excellence. It further establishes the Mountain West as the essential ecosystem for American quantum leadership in the next 50 years.

"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.

"This Tech Hub designation is only the beginning for the quantum industry in New Mexico. Our state has a long history of innovation and embracing frontier technologies, and it's possible that Quantum-enabled technology could become the most game-changing innovation of this generation," - N.M. Gov. Michelle Lujan-Grisham

Government officials in New Mexico have signaled strong support for this federal grant beyond the underlying support from the New Mexico Congressional Delegation, including an allocation of $5 million in matching funds from the state's Technology Enhancement Fund, and critical leadership and funding commitments provided by the Office of the Governor that were included with the grant proposal for the planned creation of a photonics packaging facility and local workforce development.

New Mexico seeks to build upon eight decades of collaboration with Colorado as leaders in the quantum space and to honor the state's profound legacy in atomic physics. Through this award, EQ aims to complement world-class fab capabilities in New Mexico with the construction of a state-of-the-art packaging facility helping to galvanize the local entrepreneurial and translational ecosystem. New Mexico has also taken a leading role in national quantum workforce planning with workforce activities focused on city, rural and tribal communities.

"This Tech Hub designation is only the beginning for the quantum industry in New Mexico. Our state has a long history of innovation and embracing frontier technologies, and it's possible that Quantum-enabled technology could become the most game-changing innovation of this generation," said N.M. Gov. Michelle Lujan-Grisham. "We want to thank Gov. Polis and our counterparts in Colorado, and the Elevate Quantum team, for all the work they've done to make the Mountain West the epicenter for quantum-enabled technologies in the United States."

The EDA prioritized funding three of EQ's four development pillars focusing on hardware deployment and fabrication, workforce training, and EQ governance. Through these EQ pillars, New Mexico's diverse population will gain unique training and broaden participation in all regions of our state. The University of New Mexico launched the Quantum New Mexico Institute, together with partners at Sandia National Laboratories (SNL) and Los Alamos National Laboratory (LANL), to bring the state's unique resources together to realize the potential of the second quantum revolution. The EQ Tech hub will be a multiplicative factor that will supercharge QNM's impact in the quantum economy today. The funding allows LANL, SNL, CNM and UNM to build collaborative lab spaces to share with local startups and create a first-of-its-kind training program for quantum technicians at community colleges.

"Elevate Quantum shares Sandia National Laboratories' unwavering commitment to advancing the frontiers of science and technology," Sandia National Laboratories Director James Peery. "This announcement is a testament to our dedication to excellence and a crucial step in safeguarding our nation's security. By actively participating in the development and deployment of quantum systems, and by cultivating and training a quantum-ready workforce, Sandia ensures that our nation remains at the forefront of this rapidly evolving landscape, propelling us into a new era of scientific achievement."

"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. "We are excited to work with our Mountain West partners through the Elevate Quantum Tech hub, which will enable a rapid acceleration of translational research and help solidify the nation's leadership in this critical area."

"The University of New Mexico and the national labs in our state have a long history in quantum science and engineering, having made many of the breakthrough developments that will increasingly translate into new industries, businesses, and jobs," said UNM Provost and Executive Vice President for Academic Affairs James Holloway. "We are continuing to develop our leadership with the recent launch of our Quantum New Mexico Institute. We are excited to partner across the state and with our friends in Colorado to continue to catalyze the quantum economy. The Elevate Quantum Tech Hub will accelerate our effort."

"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. We are excited to work with our Mountain West partners through the Elevate Quantum Tech hub, which will enable a rapid acceleration of translational research and help solidify the nation's leadership in this critical area." - UNM President Garnett S. Stokes

The Tech Hubs Program ensures that the industries, companies, and the good jobs of the future start, grow, and remain in the United States. The program does this by investing in regional consortia-made up of companies, universities, community colleges, nonprofits, and state and local governments-that are advancing critical and emerging technologies, such as semiconductors, quantum computing, autonomous systems, biotechnology and biomanufacturing, clean energy, critical minerals, innovative materials, and advanced manufacturing.

"Quantum technology has the potential to transform the modeling and simulation capabilities that are the backbone of scientific and national security missions at Los Alamos National Laboratory and other institutions across the nuclear security enterprise," said Thom Mason, Lab director, Los Alamos National Laboratory. "In a rapidly shifting geopolitical environment, it's imperative that America's national labs remain at the forefront of quantum R&D; the creation of this tech hub represents an exciting leap forward in our country's quest for leadership in this critical field."

Training the workforce of the future will be a key component as the EQ consortium moves forward. CNM will partner with community colleges and universities around the region to share insights and increase the overall capacity for quantum workforce training.

"Central New Mexico Community College (CNM) is honored and excited to be on the leading edge of developing a robust quantum technician workforce that will support the economic growth of businesses using quantum technology in New Mexico, Colorado and Wyoming," said CNM President Tracy Hartzler. "As a committed workforce training partner for the Elevate Quantum consortium, we look forward to partnering with quantum computing companies in the Mountain West, as well as the two National Labs in New Mexico, to create immersive, hands-on training that will quickly prepare and upskill learners for high-quality technician careers in this fast-emerging, transformative field."

Alongside the EDA award, Elevate Quantum announced The Quantum Commons Campus - 50+ acres of centrally located working space dedicated to facilitating the growth and success of its regional quantum ecosystem, Additional activities will take place in Colorado, New Mexico and Wyoming. Later this month, the next steps include an Elevate Quantum Consortium to turn blueprints into brick and mortar.

This announcement marks the culmination of Phase 2 of the first iteration of the Tech Hubs Program, a flagship initiative aimed at advancing U.S. leadership in critical and emerging technologies and industries. Phase 1 of the program identified 31 Tech Hubs in geographically diverse, high-potential regions across the country with demonstrated expertise in emergent technology sectors.

For more information, visit Elevate Quantum.