Cook County Board of Commissioners Approves $20 Million Investment in PsiQuantum and Illinois Quantum and Microelectronics Park
COOK COUNTY, IL—Today, the Cook County Board of Commissioners approved a $20 million grant to the Board of Trustees of the University of Illinois to fund costs associated with the purchase and installation of a cryogenic facility at PsiQuantum, the anchor tenant of the Illinois Quantum and Microelectronics Park (IQMP).
Cook County is a key partner in IQMP, demonstrating its commitment to driving technological innovation and economic growth. IQMP will be a world-class hub for quantum technologies and microelectronics, hosting a mix of global industry leaders—including PsiQuantum, IBM and Infleqtion—alongside academic researchers, startups, suppliers and workforce training programs.
"PsiQuantum and IQMP will drive innovation, job creation and economic growth and will position Cook County at the forefront of the global quantum economy," said Cook County Board President Toni Preckwinkle. “In addition to transforming the long-dormant U.S. Steel South Works site into a hub of innovation, this effort will create opportunities in historically disinvested communities, like the south suburbs.”
In November 2024, the Board approved creation of a property tax incentive, known as Class 8 MICRO, to encourage long-term investment at IQMP and throughout the emerging sector. At that time the Board also allocated this $20 million investment as part of the FY2025 budget.
Current estimates project tens of billions of dollars in economic impact from IQMP, including thousands of jobs created during construction. Additionally, PsiQuantum’s initial phase alone is expected to create at least 150 jobs, with more opportunities as the project expands. Jobs will range from high-tech positions to roles supporting the broader ecosystem. Beyond job creation, the project is expected to attract additional investment to the region.
The campus will feature both the National Quantum Facility and the National Quantum Algorithm Center. At the core of this ambitious development is the cryoplant infrastructure, which will serve as the essential enabling technology for cutting-edge quantum computing. The cryogenic facility, Cryoplant A, was ordered from Linde Kryo Technic (LKT) in November 2024 and is on an 18-month delivery schedule. Additional facilities will be added throughout project development.
The State of Illinois, through its Department of Commerce and Economic Opportunity, provided a $99 million grant to the University of Illinois for the costs and expenses associated with the design, engineering, purchase and installation of equipment and systems required to establish cryoplant infrastructure at the IQMP site.
The cryoplants are industrial-scale systems for providing cooling based on helium, capable of generating temperatures as low as a few degrees Kelvin, which is near absolute zero. This ultra-low temperature is required for many quantum computing technologies to operate.