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New park will support thousands of good-paying jobs in Colorado
ARVADA - Just months after being designated as a Quantum Tech Hub, Governor Polis joined Deputy Secretary Don Graves and the Department of Commerce to break ground on the new Quantum Tech Park in Arvada. The 70-acre site will be dedicated to elevating quantum technology and research in Colorado. The future site will help create up to 10,000 new jobs in Colorado by 2030, 80% of which will not require an advanced degree. Governor Polis and Deputy Secretary Graves were also joined by Rep. Brittany Pettersen, Boulder Mayor Aaron Brockett, Colorado School of Mines President Paul Johnson, and leadership from the University of Colorado Boulder and Elevate Quantum.
“We aren’t wasting any time and are rolling up our sleeves and getting to work, ensuring Colorado’s leadership in quantum technology. Quantum technology is our future, and in Colorado we are building what we need to support the quantum revolution. We’ve been very active both before and after earning the competitive federal TechHubs recognition, and with this new quantum park we are breaking ground on today we are positioning Colorado as the global epicenter of the quantum industry,” said Governor Polis.
“The Department of Commerce is focused on fostering the future of critical and emerging technologies like quantum, and using innovative place-based economic strategies to spread its benefits to every corner of our country,” said Deputy Secretary of Commerce Don Graves. “The Elevate Quantum Tech Hub is on the cutting edge of that mission and will help write the next chapter of Colorado’s economic prosperity.”
Half of the $41 million Economic Development Administration Tech Hub award will go towards critical equipment and capabilities to establish this site. This amount will be matched by $22 million from the state of Colorado through HB24-1325 - Tax Credits for Quantum Industry Support, sponsored by Representatives Alex Valdez and Matt Soper, and Senators Jeff Bridges and Mark Baisley, and signed by Governor Polis, which provides $74 million dollars for fully refundable quantum tax credits, that can generate up to $1 billion in economic activity and create more than 10,000 jobs in the next decade to help make Colorado the foremost state in the country for Quantum. The funding in this legislation was activated by Colorado’s Tech Hubs win.
The site was purchased by the Colorado School of Mines, which is dedicating it entirely to quantum technologies and partnering with Elevate Quantum (EQ) to continue growing Colorado’s quantum industry.
The park will support critical rapid prototyping, low-volume manufacturing, and workforce training. The park will also be an important resource for quantum companies that locate on site, allowing them to get the ground lease into perpetuity, as well as access to state and local tax incentives for anything they build on the site. Colorado is at the center of one of the largest concentrations of quantum talent and assets in the US, positioning the park to help drive Colorado’s economy, create thousands of new jobs, and cement Colorado and the U.S. as a quantum epicenter.