International Business Machines Corp. (IBM) has just announced that it is planning to expand its quantum and microelectronics campus in Chicago, Illinois, with a fresh investment that's set to create 750 jobs over the coming five years.
The company is rolling out a new innovation hub called the FutureNow Chicago center, located at the Illinois Quantum and Microelectronics Park, which spans 128 acres on the South Side of the city. This project will receive around $19 million in support through state tax credits, further boosting efforts to develop a more robust tech ecosystem in the area.
This new center is expected to work as an innovation and delivery hub, assisting IBM's clients and partners with complex tech and business challenges while also nurturing local talent. As part of this initiative, IBM plans to team up with City Colleges of Chicago to kick off an apprenticeship program and is committed to hiring some of its graduates.
Illinois Governor JB Pritzker pointed out that this investment underscores the state's rising significance in advanced technologies like quantum computing and microelectronics.
IBM's Chairman and CEO, Arvind Krishna, explained that this project will enhance the company's delivery capabilities and help cultivate the next generation of tech talent. The initiative is also aimed at promoting long-term economic growth by aligning workforce development programs with the needs of emerging industries.
The first phase of this larger technology campus is anticipated to wrap up by 2027, positioning Chicago as a central hub for innovation in quantum computing and advanced semiconductor technologies.
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