Vella Pushes Quantum Computing Incentive Plan, Underscores Economic Potential

 

SPRINGFIELD, Ill. – As part of continuing efforts to create jobs and attract robust economic investment, state Rep. Dave Vella, D-Rockford, passed a bipartisan state incentive plan Wednesday that aims to make Illinois a national leader in quantum computing.

 

“We want Illinois to be the hub for future technologies and economic opportunity,” Vella said. “By being ahead of the curve on quantum computing, we’re not just supporting businesses directly, but surrounding industries and communities as well. We’ve already made significant investments in our education system and infrastructure, let’s take further, responsible action to support emerging industries that can pay dividends for decades to come.”

 

Quantum computing is seen as the next level of computing technology, pushing beyond speed constraints and boundaries of existing supercomputers and traditional computer design. Being cutting edge, the industry has high, specialized construction costs, as well as significant resource requirements – including high electricity usage.

 

Vella’s House Bill 817 looks to address these high entry-level costs, creating sales tax exemptions on construction materials and exemptions from state taxes on energy and telecommunications. The proposal also includes a Quantum Computing Campus Enterprise Zone Tax Credit for 20% for full and part-time construction workers.

 

Additionally, House Bill 817 extends the state’s Research and Development Credit, reinforces incentives for battery storage facilities and pushes for more manufacturing in Illinois.

 

The measure passed the House with bipartisan support, and will now head to the Senate for consideration. For more information, please contact RepDaveVella@gmail.com.