Colorado media sources are reporting that a quantum company — known only as Project Quantum — is looking to bring a manufacturing and hundreds of jobs to Colorado.
The sources report that the Denver-based startup may be able to create 726 full-time jobs. Most of the jobs will be manufacturing jobs, however, in addition to manufacturing the company is also expected to produce positions in management, engineering, technical, sales and marketing, supply chain management, finance and administrative roles. The company reportedly makes components for quantum computers.
“Given the broad applications and catalytic benefits that this company’s technology could bring, retaining this company would help position Colorado as an industry leader in next-generation and quantum computing,” Michelle Hadwiger, the deputy director of the Colorado Office of Economic Development & International Trade, told commissioners, as reported in the Denver Post.
Commissioners okayed $900,000 in incentives over eight years, which would rely on matching local grants, the sources report.
The Post added that the jobs would carry an average annual wage of $103,329.
Illinois, Ohio and New York were also studies as sites for the new plant and headquarters, the deputy director told the commissioners.
Colorado makes sense for quantum project(s). ColdQuanta Inc. is based in Boulder, along with NIST Boulder laboratories. Boulder and Fort Collins are home to high-profile universities with computer science programs that could provide intellectual property and talent for Project Quantum.
The Greeley Tribune reported contacting one of the members behind the project.
“Quantum computing is the most transformative technology being worked on anywhere in the world today,” a Project Quantum executive identified only by his first name “Corban,” told the newspaper. He added that the firm was building hardware for a quantum computers that are “going to be as important to the next 30 years of technology as the internet was to the last 30.”
Competition is increasing for states to land quantum technology because the power and speed of quantum devices have the potential to transform the economy and society, the papers report.
The quantum project is one of three firms that are looking to build in Colorado, bringing in more than 1,000 jobs. Two other projects — identified vaguely as Project Hong Kong and Project Runway.