Colorado School of Mines recently acquired a 70-acre plot of land near its campus with plans to build a quantum technology hub. The purchase, which cost approximately $14 million, was largely funded by a federal grant.
According to the Denver Business Journal, the development will be known as Quantum COmmons @ Arvada and is expected to become a leading global technology park. This project is being undertaken in collaboration with Elevate Quantum, an organization recognized by the federal government that includes over 70 entities from Colorado and New Mexico. The goal of this initiative is to provide open access user facilities that will accelerate progress in the quantum industry. It is estimated that this new hub could create up to 10,000 jobs for Colorado by 2030.
Quantum COmmons @ Arvada will be owned and operated by Mines in partnership with Elevate Quantum and its affiliates. While Mines covered most of the initial costs for purchasing the property, they are set to receive partial reimbursement for their investment.
The lab and fabrication facility must be operational within 12-18 months as per conditions outlined in their U.S Economic Development Administration grant agreement.
