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Colorado Secures $40.5 Million Federal Investment for Quantum Technology Advancement

(photo: Government Technology)

Colorado has received $40.5 million from the Biden administration as part of a $504 million federal investment in U.S. technology hubs.

Colorado Secures $40.5 Million for Quantum Technology Advancement

The Biden administration has allocated $40.5 million to Colorado for quantum technology, part of a $504 million federal investment across twelve U.S. technology hubs. Governor Jared Polis praised the decision, emphasizing Colorado’s role and the creation of over 10,000 jobs through Elevate Quantum, a consortium spanning Colorado, New Mexico, and Wyoming.

CEO Zachary Yerushalmi highlighted the Mountain West’s emergence as a global quantum leader, thanking partners and the Economic Development Administration for their support. Polis echoed Colorado’s pivotal role in quantum technology, crediting federal legislators and local officials for securing the funding, according to the report of KDVR.

READ ALSO: $850 A Month: How Atlanta’s ‘In Her Hands’ Basic Income Program Is Transforming The Lives Of Low-Income Black Women

(photo: Montrose Daily Press)

Colorado’s Quantum Initiative Gains Momentum with $40.5 Million Federal Boost

Representative Joe Neguse emphasized the investment’s strategic importance in enhancing America’s quantum computing capabilities. Hickenlooper and Bennet announced the federal funding would leverage an additional $74 million in state funds and over $1 billion in private capital, with state legislation supporting quantum research and small business initiatives.

Colorado’s quantum technology hub already supports 3,000 workers, offering economic opportunities without advanced degrees. The state’s position strengthens with federal backing, marking a significant step in advancing U.S. quantum leadership and technological innovation.

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