What Illinois Quantum & Microelectronics Park does

Illinois Quantum & Microelectronics Park (IQMP) is a 128-acre, purpose-built research and scale-up campus under construction on Chicago's South Side at the former U.S. Steel South Works site, operated by IQMP, LLC — a University Research Organization owned by the University of Illinois Board of Trustees. The park provides specialized quantum infrastructure including cryogenic systems, quantum control electronics, laser and optical equipment, a dedicated 16,000 SF cryogenic plant within the 62,000 SF National Quantum Facility, and a 150,000 SF Quantum Works workforce development building managed by Discovery Partners Institute. It serves global quantum computing companies (PsiQuantum, IBM, Infleqtion, Pasqal, Diraq, Quantum Machines), national laboratories (Argonne, Fermilab), academic partners (University of Chicago, UIUC, Northwestern), and federal research programs (DARPA Quantum Proving Ground) through direct tenancy, membership in the National Quantum Algorithm Center (NQAC), and the On-Ramp interim-laboratory program at mHUB, Hyde Park Labs, and DPI.

IQMP's revenue mechanics are dominated by public-sector capital deployment rather than commercial leases: the State of Illinois has committed $500M directly to IQMP, $200M to the Chicago Quantum Exchange, $140M for DARPA Quantum Proving Ground matching, and $3M+ in X-Labs and innovation grants, supplemented by the MICRO program's $500M in tenant incentives and Illinois Finance Authority loans (e.g., $15M to Pasqal). Direct revenue is generated through tenant leases for laboratory, office, and specialized quantum infrastructure space — rates are individually negotiated and not publicly disclosed — plus NQAC membership and Grand Challenges program participation. Anchor tenants drive co-location economics: PsiQuantum's utility-scale error-corrected system, IBM's Quantum System Two and FutureNow Chicago delivery center (750 jobs), Infleqtion's Sqale neutral-atom platform (delivery 2027), Pasqal's U.S. HQ ($65M+ investment), Diraq's silicon spin-qubit program, and Quantum Machines' OPX1000 control-systems hub. Go-to-market is sales-led, with Preeti Chalsani serving as both IQMP Business Development Lead and the state's inaugural Chief Quantum Officer at the Illinois Economic Development Corporation, coordinating outreach with DCEO, Illinois EDC, and Related Midwest (master developer of Quantum Shore Chicago).

Name

Illinois Quantum & Microelectronics Park

Legal name

Illinois Quantum & Microelectronics Park

Website

https://iqmp.org

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Illinois Quantum & Microelectronics Park (IQMP) is a 128-acre, purpose-built quantum and microelectronics scale-up campus on Chicago's South Side, operated by the University of Illinois. It leases specialized cryogenic and research infrastructure to global quantum companies, national labs, and federal research programs, supported by $843M+ in state and federal public funding.

Ownership category

akta.pro rank

Product category

Quantum Research Infrastructure

akta.pro primary industry

Managed Quantum Services & Enterprise Support (HDAGAIAI)

akta.pro secondary industry

Multi-Provider Quantum Aggregators & Marketplaces (HDAGAIAC)

Keywords

• Quantum technology campus
• Microelectronics research park
• Quantum computing infrastructure
• Cryogenic research facilities
• Quantum innovation ecosystem

Headquarters

HQ city

Urbana

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D

Revenue model

1. Tenant Leases and Facility Rental: IQMP generates revenue through leasing laboratory space, office facilities, and specialized quantum infrastructure to quantum technology companies, research institutions, and government partners establishing operations at the park.
2. State Government Investment and Incentives: Illinois has invested $500 million directly in IQMP plus $200 million for Chicago Quantum Exchange, with additional MICRO program incentives ($500M) and EDGE agreements supporting tenant companies. These public investments fund infrastructure development and operations.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Illinois Quantum & Microelectronics Park (IQMP) is a 128-acre quantum technology and microelectronics campus located at 8080 S DuSable Lake Shore Dr, Chicago, IL. It provides specialized research infrastructure including dedicated cryogenic plants, cryostats, clean rooms, and optical suites to quantum computing companies, national laboratories, and federal research programs. The park offers direct tenancy agreements, the National Quantum Algorithm Center (NQAC), an On-Ramp program, and the Grand Challenges program to build and accelerate a U.S. quantum technology ecosystem.

Product overview

The Illinois Quantum and Microelectronics Park (IQMP) is a first-of-its-kind 128-acre campus built for quantum technology and microelectronics innovation and scale-up on Chicago's South Side. The Park provides infrastructure and resources to support the full ecosystem of companies, researchers, suppliers, and partners working to develop and commercialize quantum technologies. Key offerings include the National Quantum Algorithm Center (NQAC) for quantum algorithm advancement and industry collaboration, the On-Ramp Program for early tenant operations, and the Grand Challenges Program supporting postdoctoral researchers. Major facilities include the National Quantum Facility (NQF) for quantum research with cryogenic infrastructure and Quantum Works for workforce development. The Park serves as home to anchor tenant PsiQuantum, IBM, Infleqtion, Pasqal, Diraq, Quantum Machines, and the DARPA Quantum Proving Ground.

Differentiator

Problem solved

Functional benefit

Brands

• National Quantum Algorithm Center (NQAC): A component of IQMP that brings together academic quantum algorithms experts, quantum companies that provide hardware or software solutions, and potential end users of quantum computing capabilities. It serves as a membership organization and the software side of the IQMP.
• On-Ramp Program

Products and services

• National Quantum Algorithm Center (NQAC)
• On-Ramp Program
• Grand Challenges Program
• Direct Tenancy at IQMP Campus

Quantifiable outcome

• Up to $20 billion projected economic impact on Chicago region
• +3 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature4 records

Partnerships

29 partnerships are on record, tiered strategic, core, flagship and minor.

• Q-STAR (Japan's Quantum Technology Commission)strategicStrategic or Co-development Partner · 25 July 2026MoU signed at Global Quantum Forum to establish cross-border commercialization pathways, joint R&D pipelines, and supply chain connections between Japan and Illinois. Four operational tracks: capital access, supply chain co-development, joint R&D, and workforce exchange.
• Zero Point CryogenicscoreStrategic or Co-development Partner · 22 July 2026Canadian manufacturer of dilution refrigerators and cryogenic equipment establishing first U.S. location at IQMP. Creating 20+ specialized jobs in R&D, sales, technical services, and cryogenic infrastructure manufacturing. Supported by MICRO program.
• IBMflagshipStrategic or Co-development Partner · 29 April 2026IBM will house its FutureNow Chicago delivery center (750 jobs) and IBM Quantum System Two at IQMP's Quantum Works building. Collaboration includes National Quantum Algorithm Center partnership, with IBM committing to hire one-third of qualified program graduates from City Colleges apprenticeship program.
• mHUBcoreStrategic or Co-development Partner · 3 March 2026Chicago innovation center hosting IQMP On-Ramp program with four quantum labs equipped with cryostats, control electronics, lasers, and optical tables. Expansion funded by Illinois DCEO grant. Part of Deep Tech Labs anchor tenant program.
• Discovery Partners InstitutecoreStrategic or Co-development Partner · 3 March 2026UIUC research institution providing On-Ramp facility space in downtown Chicago. Developing Quantum Works (150,000 SF) workforce development building at IQMP.
• UChicago Science Incubator at Hyde Park LabsminorStrategic or Co-development Partner · 3 March 2026On-Ramp facility providing move-in ready lab space with optical suites, cryostat capacity, and access to 124-mile fiber optic quantum loop. Home to early quantum tenants including memQ, Quantum Machines, Bluefors, and stac12.
• Quantum MachinescoreTechnology or Integration · 4 February 2026Leading provider of hybrid quantum control solutions establishing flagship hub at IQMP. Occupying 2,000+ SF of specialized facilities with cryostats, control electronics, lasers, and optical tables. OPX1000 controller supports superconducting and spin qubit systems. Selected Chicago for 2026 Adaptive Quantum Circuits conference.
• Silicon CatalyststrategicStrategic or Co-development Partner · 9 December 2025Global semiconductor accelerator partnering with IQMP as In-Kind Partner to provide lab space and infrastructure for quantum companies in Silicon Catalyst's quantum-focused accelerator program.
• PasqalcoreStrategic or Co-development Partner · 9 October 2025French quantum computing pioneer establishing U.S. headquarters at IQMP with $65+ million investment and 50 new full-time jobs. Building neutral-atom quantum processing units for U.S. industry and government access.
• PsiQuantumflagshipStrategic or Co-development Partner · 30 September 2025Anchor tenant at IQMP, building the first utility-scale, error-corrected quantum computer at the 128-acre campus on Chicago's South Side. PsiQuantum's facility construction marks the official groundbreaking and development of the park.
• DARPAflagshipStrategic or Co-development Partner · 30 September 2025DARPA Quantum Proving Ground (QPG) partnership at IQMP where DARPA-funded researchers conduct quantum R&D using shared facilities. Illinois committed $140 million in matching funds. Program tests and evaluates quantum computing prototypes.
• InfleqtioncoreStrategic or Co-development Partner · 21 July 2025Headquarters global quantum computing operations at IQMP with expected $50 million investment. Developing utility-scale neutral atom quantum system (Sqale) and serving as founding member of National Quantum Algorithms Center. Minimum commitment of 36 full-time jobs.
• DiraqcoreStrategic or Co-development Partner · 12 May 2025Australian firm and DARPA Quantum Benchmarking Initiative Stage A performer pioneering silicon quantum dot spin qubits. Plans to use IQMP On-Ramp facilities while park is under development. Awarded up to $1 million in federal funding through DARPA program.
• Argonne National LaboratorycoreStrategic or Co-development PartnerNational laboratory partner providing quantum research expertise and hosting Quantum Prairie Economic Symposium. Home to Quantum Foundry and Quantum Institute initiatives positioning the region as central hub for quantum information science.
• FermilabcoreStrategic or Co-development PartnerNational laboratory partner contributing quantum expertise and collaborating on quantum sensor development projects including partnership with Diraq on the Quandarum project for DOE.
• University of ChicagocoreStrategic or Co-development PartnerAcademic partner through Chicago Quantum Exchange, Pritzker School of Molecular Engineering, and Polsky Center. Contributes researchers to NQAC and Grand Challenges program; Hyde Park Labs provides On-Ramp facilities.
• University of Illinois Urbana-ChampaigncoreStrategic or Co-development PartnerAcademic partner through Discovery Partners Institute (DPI) and Grainger College of Engineering. DPI developing Quantum Works building and workforce development programming. Manages University of Illinois System RFP for NQF and Quantum Works development.
• Northwestern UniversitycoreStrategic or Co-development PartnerAcademic partner contributing quantum research expertise in materials science, chemistry, physics, and engineering. Active in NQAC Grand Challenges program with professors leading quantum algorithm research.
• Chicago State UniversitycoreStrategic or Co-development PartnerEducational partner developing quantum workforce through CQuEST (Quantum Education Science & Technology Center). Offers QISE Minor and Certificate, Semiconductor Technology and Manufacturing Certificate. Only Predominantly Black Institution in NSF's Quantum Leap Challenge Institute (QuBBE). Received $700,000 NSF award for national quantum curriculum.
• City Colleges of ChicagocoreStrategic or Co-development PartnerEducational partner managing IBM FutureNow Chicago apprenticeship program with opportunities for individuals with high school degree. Preparing students for careers in quantum, AI, cybersecurity, and data science through work-based learning.
• Southern Illinois University EdwardsvilleminorStrategic or Co-development PartnerEducational partner providing IBM FutureNow Chicago internship and co-op opportunities for students.
• Chicago Quantum ExchangecoreStrategic or Co-development PartnerRegional quantum consortium coordinating ecosystem activities, talent pipeline research, and industry partnerships. Commissioned Boston Consulting Group analysis projecting $80 billion regional economic impact by 2035.
• P33coreStrategic or Co-development PartnerChicago economic development organization co-hosting Global Quantum Forum and launching Grand Challenges program with NQAC. CEO Brad Henderson involved in ecosystem development and workforce initiatives.
• Illinois Economic Development Corporation (Illinois EDC)coreStrategic or Co-development PartnerState economic development corporation facilitating partnerships including Pasqal, Infleqtion, and Silicon Catalyst deals. Christy George serves as President and CEO.
• Related MidwestcoreStrategic or Co-development PartnerMaster developer of Quantum Shore Chicago transforming former U.S. Steel South Works site into IQMP campus. Led by President Curt Bailey, integrating park with community development including 53-bed Advocate Health hospital and 100+ acres of parkland.
• City of ChicagocoreStrategic or Co-development PartnerMunicipal government partner with Mayor Brandon Johnson supporting IQMP development. Part of broader Team Illinois collaboration.
• Cook County GovernmentcoreStrategic or Co-development PartnerCounty government partner with Board President Toni Preckwinkle supporting IQMP as economic development initiative for South Side communities.
• HIRE360minorStrategic or Co-development PartnerWorkforce development organization collaborating with IQMP to recruit candidates into union trades apprenticeship programs for construction opportunities.
• Apprenticeship IllinoisminorStrategic or Co-development PartnerStatewide workforce initiative with 22,000+ active apprenticeships, 455 programs, and 1,700 employer partners supporting quantum talent pipeline.

Scale indicators13 records

Recent moves14 records

Expansion highlights6 records

Direct peers

• Quantum Foundry at UCSB: UCSB's California NanoSystems Institute-led quantum research hub focused on quantum materials, devices, and systems. Comparable to IQMP as a university-anchored quantum research facility with co-located industry partners, federal funding, and shared cryogenic infrastructure, though smaller in scale and without a dedicated multi-tenant park model.
• Maryland Quantum Initiative / Mid-Atlantic Quantum Alliance: State-funded quantum initiative coordinated across University of Maryland, NIST, Army Research Lab, and Johns Hopkins APL. Directly comparable to IQMP as a publicly-funded state quantum cluster pursuing similar goals of attracting industry tenants, federal partnerships, and workforce development in quantum computing.
• Brookhaven National Laboratory (Quantum Initiatives): DOE national lab with significant quantum information science and computing programs, including partnerships with industry on quantum networking and materials. Comparable to IQMP in operating large-scale quantum research infrastructure with federal funding and industry co-location, though structured as a federal lab rather than a state-led park.
• Oak Ridge National Laboratory (Quantum Science Center): DOE quantum research hub with the Quantum Science Center, IBM Quantum System One, and HBCU partnerships. Comparable to IQMP in delivering multi-institutional quantum research infrastructure with significant federal investment and a similar mission of scaling quantum computing capability.
• Argonne National Laboratory: Nearby national lab partner to IQMP with the Quantum Foundry and Quantum Institute initiatives. While IQMP lists Argonne as a partner, Argonne itself operates quantum research infrastructure (Q-NEXT, SQMS-style efforts) that overlaps significantly with IQMP's mission and target customer base.
• Fermilab: DOE national lab 52 miles from IQMP and a Core partner of the park, with significant quantum sensor and computing research (including the Quandarum project with Diraq). Operates quantum infrastructure that competes with and complements IQMP for industry partnership and federal funding.

Broad incumbents

• Research Triangle Park (RTP): One of the largest planned research parks in the U.S., spanning 7,000 acres in North Carolina. Analogous to IQMP as a multi-tenant, master-planned research campus with university-industry-government collaboration, though not focused on quantum and broadly diversified across life sciences and tech.
• Cummings Research Park (Huntsville, AL): Second-largest research park in the U.S. and fourth-largest globally, hosting aerospace, defense, and biotech tenants including NASA, Boeing, and Lockheed Martin. Comparable to IQMP as a master-planned research park with strong public-sector partnership model and state-political alignment.

Emerging players

• Station Houston: Houston-based innovation hub with shared lab infrastructure for deep tech and energy startups. Comparable to IQMP as a managed innovation campus with mix of physical infrastructure and ecosystem programming, though much smaller in scale and focused on energy/cleantech rather than quantum.

Regional players

• Mountain View Quantum Labs / Sandia-Led Quantum Initiatives (Albuquerque): Sandia National Laboratories and surrounding New Mexico quantum initiatives operate one of the largest concentrations of quantum security and computing research in the U.S. Comparable to IQMP in mission (quantum at scale) but with a federal-lab-driven model and longer history, representing a competing regional cluster for federal quantum funding.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/iqmp

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Illinois Quantum & Microelectronics Park