New quantum tenant gets $1.8 million in tax credits
(The Center Square) – Another quantum technology company is coming to Illinois, and tax credits are part of the deal.
Gov. J.B. Pritzker spoke at the second annual Global Quantum Forum in Chicago on Wednesday and announced that Zero Point Cryogenics would join the Illinois Quantum and Microelectronics Park.
“It’s decision to establish its first U.S. location here in Illinois is a tremendous validation of our state’s scientific and economic leadership in the quantum industry,” Pritzker said.
The state’s agreement with the Canadian cryogenic infrastructure company includes an estimated $1.8 million in tax credits.
“Through the state’s Manufacturing Illinois Chips for Real Opportunity program, known as MICRO, we can attract companies making the kinds of investments that will strengthen our economy for decades to come,” Illinois Department of Commerce and Economic Opportunity Director Kristin Richards said.
According to a statement from Pritzker’s office, ZPC will make “a substantial capital investment” and create more than 20 new, specialized jobs in Illinois.
State, county and city governments have provided hundreds of millions of dollars in tax incentives for companies to operate at the IQMP.
PsiQuantum, the company selected in 2024 to anchor the site on Chicago’s Southeast Side, said it received a package of incentives worth more than $500 million over 30 years.
At the 2025 Global Quantum Forum, also in Chicago, Pritzker announced that Infleqtion would receive more than $5 million in state tax credits for agreeing to be a tenant at the quantum park.
IBM and Pascal, a French company, also received tax breaks to set up at the IQMP, which developers hope to have open in 2027.
The Center Square asked Republican gubernatorial candidate Darren Bailey about the state giving tax breaks to multi-million-dollar quantum companies.
“With J.B. Pritzker, with some of these, I have no problem bringing items like this to the table and trying to attract them to Illinois, but not at the cost of the taxpayer,” Bailey told The Center Square.
Bailey said Boeing was offered special incentives under the administration of former Republican Gov. George Ryan.
“And what happened whenever they came due? Boeing packed up and moved out a few years ago,” Bailey said.
In addition to providing tax credits, Pritzker’s administration has invested $500 million in state taxpayer funds for the IQMP and $200 million to support the Chicago Quantum Exchange.
Mostly Clear
Latest News Stories
Arizona Chamber praises new interstate natural gas pipeline
Dems oppose Trump’s bid to end mail-in ballots, voting machines
After two weeks fleeing Texas, House Democrats return, quorum reached
Trump says court’s tariff decision could lead to ‘catastrophic’ collapse
Trump: Zelenskyy could end Russia-Ukraine war ‘if he wants to’
$750 million facility to protect Texas cattle, wildlife from screwworm threat
Chicago posts fewest homicides since 2016, arrests rate also declines
Three years later, Inflation Reduction Act blamed for higher Medicare costs
Illinois quick hits: Prosecutors charge two more in Tren de Aragua case; Senate Energy and Public Utilities Committee meets today; Illinois Little League team loses in World Series
Report: Human Rights Campaign pressures transgender procedures on minors
Everyday Economics: Housing market and Fed policy in focus in the week ahead
Executive Committee Considers $12,000 Strategic Planning Initiative with University of St. Francis
