Illinois Governor JB Pritzker recently approved a plan to enhance the state’s tech industry, with a focus on quantum computing. The plan includes a $500 million incentives package to make Illinois a leader in this emerging technology, as well as expanding tax credits for the film industry, research and development, and other industries. The goal is to attract businesses, foster growth, and create jobs, with an estimated $21 billion in new state revenue over the next 30 years.
The legislation also designates a “quantum campus” in the state, offering tax breaks to businesses in the area. This initiative is supported by $500 million in funding, including construction, cryogenic facilities, and matching federal grants. The legislation also opens up existing programs to quantum computing companies, leveraging initiatives like the MICRO program for the semiconductor industry.
Chicago is likely to be the location for the quantum campus, as the city is already home to quantum research hubs and startups. Quantum computing has the potential to revolutionize industries with its unprecedented power and efficiency. While the technology is still evolving, its impact could be comparable to the development of the transistor in the mid-20th century.
Governor Pritzker emphasized the importance of seizing the opportunity in quantum computing early on, drawing parallels to the state’s missed chance with the internet boom. The new legislation also expands support for green technology, research and development, and other key industries, positioning Illinois as a hub for innovation and economic growth.
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