Investing for the future: IBM building national quantum algorithm center in Chicago

SPRINGFIELD, Ill. (WAND) — IBM is making a major investment in Illinois by creating a national quantum research center in Chicago. Gov. JB Pritzker said this is yet another step toward making Illinois the quantum leader of the world.

Pritzker loves quantum technology, even though most people don't know what it is yet. He is determined to bring the best scientists to Illinois to address issues of the future.

"With a projected $20 billion in economic impact, the quantum industry in Illinois could dramatically transform our economy, creating and attracting tens of thousands of high tech jobs, spurring entirely new industries, and all the while supercharging our mainstay sectors," Pritzker said Thursday.

The Democrat is ecstatic that IBM chose to build its next state of the art research center in Chicago. The IBM national quantum algorithm center will initially operate out of the University of Illinois Discovery Partners Institute and University of Chicago.

"We need lighter weight materials so that we can leverage electrification better," said IBM Chairman and CEO Arvind Krishna. "We need better batteries. We need to worry about food safety. We need to worry about financial risk. All of these are problems that we believe are going to be within the reach of quantum computing in this decade."

Experts said the software developed at the IBM center will be necessary to use the hardware designed at the state's future Quantum and Microelectronics on the south side of Chicago. This project will require work from world class industry, academic and public sector leaders.

"IBM has built strong relationships over the years with the University of Chicago, and UIUC, and others here in Illinois," said IQMP CEO Harley Johnson. "We're really looking forward to building on that foundation in this new chapter together."

Krishna said IBM plans to hire 50 people to start the algorithm center next year. He expects to invest hundreds of millions of dollars for quantum research in Chicago over the next two years.

"Being at the forefront of this industry holds the potential to deliver longterm broad-based economic prosperity for our people," Pritzker said.