PsiQuantum has begun constructing America's largest quantum computing project at the Illinois Quantum and Microelectronics Park (IQMP) in Chicago, marking a significant milestone in quantum technology development.

State officials, including Gov. JB Pritzker and Chicago Mayor Brandon Johnson, highlight the project's potential to attract billions in private investment, create thousands of jobs, and serve as a catalyst for economic renewal in the historically disinvested South Side.

The full-scale development of the park is expected to generate billions in economic impact and attract global companies like IBM, Diraq, and Infleqtion, transforming the long-vacant site.

The project includes community engagement efforts, workforce development programs, and educational initiatives targeting local schools and universities, aiming to benefit the surrounding neighborhoods.

While supporters emphasize the economic and technological benefits, community groups are calling for a Community Benefits Agreement to ensure protections against displacement, environmental cleanup, and investment in local resources like affordable housing and parks.

The development is part of a broader effort to revitalize the area, with plans for new housing, retail, parks, and community spaces along the lakefront, integrating natural landscapes and historic features like Steelworkers Park.

The site’s proximity to major universities such as the University of Chicago, University of Illinois Chicago, and Northwestern University is expected to support a skilled workforce and foster innovation.

Funding for the project includes hundreds of millions of dollars in state investment and tax incentives, with initial construction supported by a partnership involving the city, county, and state of Illinois.

The project involves multiple industry partners, including IBM, DARPA, and tenants like Advocate Health, with plans to include research facilities, infrastructure, and community amenities.

Despite broad support, local residents and advocates express concerns about environmental contamination, land cleanup, displacement, and whether the promised economic benefits will reach the community.

The site’s redevelopment aims to include environmentally friendly building materials, native landscaping, expanded park connectivity, and green spaces, with a focus on environmental safety and community well-being.

Overall, the project is projected to have a $50 billion economic impact over 20 years, creating thousands of jobs across sectors and positioning Chicago as a leader in quantum research and innovation.