Governor Kathy Hochul is directing a $360 million investment into New York’s quantum sector following a new study revealing the state’s position as second nationally in quantum-related businesses, research groups and patents. Commissioned by Empire State Development’s Division of Science, Technology and Innovation (NYSTAR), the study identifies opportunities to strengthen collaboration, accelerate commercialization and support future economic growth.
“New York is building the foundation for technological breakthroughs, and quantum technology represents an opportunity for our economy,” Governor Hochul said. This funding aims to translate New York’s research strengths into economic growth and job creation within the emerging quantum industry.
New York Ranks Second Nationally in Quantum Businesses & Patents
New York State’s quantum sector benefits from a concentration of businesses and research entities, placing it second nationally in the number of quantum-related organizations and patents. The study highlights existing advanced manufacturing capabilities as a key asset for future growth, alongside a robust network of innovative companies.
Empire State Development President, CEO and Commissioner Hope Knight emphasized the state’s proactive approach, stating, “Under Governor Hochul’s leadership, New York is making strategic investments to lead technological innovation.” The findings from the study are directly informing the allocation of the $360 million investment intended to accelerate the commercialization of quantum technologies and attract further private funding. This investment connects New York’s research strengths with industry needs, supporting economic development and job creation.
Governor Hochul articulated the state’s vision for quantum technology, saying, “With research institutions, advanced manufacturing capabilities and a growing network of innovative businesses, we have the tools to lead this emerging industry.” The $360 million investment, she believes, will translate potential into tangible progress by bringing new technologies to market and stimulating economic activity across New York State.
New York is building the foundation for the next generation of technological breakthroughs, and quantum technology represents an enormous opportunity for our economy.
Governor Kathy Hochul
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