State of Maryland, University of Maryland Announce $1 Billion “Capital of Quantum” Initiative

Rhea-AI Summary

IonQ (NYSE: IONQ) has announced a landmark partnership with the University of Maryland and the State of Maryland as part of a $1 billion 'Capital of Quantum' initiative. The company will serve as the anchor partner in establishing Maryland as the quantum computing industry's hub.

Subject to budget approval, IonQ plans to expand its corporate headquarters to a 100,000 square feet facility within the University of Maryland's Discovery District, including a data center, laboratories, and office space. The company aims to double its Maryland workforce to 250 people over the next five years.

The initiative includes developing quantum computers and networking for the Quantum Internet, creating educational materials for Maryland high school students, and establishing a state-of-the-art quantum intelligence campus. IonQ's strategic location near Washington, D.C., and Annapolis positions it advantageously for government contracts and partnerships.

Positive

• Plans to double workforce to 250 people in Maryland region over next 5 years
• Expansion to 100,000 sq ft facility with data center, labs, and office space
• Strategic positioning for government contracts due to proximity to D.C. and Annapolis
• Anchor partnership in $1B state initiative strengthens market position

Negative

• Expansion plans contingent on budget approval and incentives
• Significant capital investment required for facility expansion

Insights

Investment Strategist

The $1 billion Capital of Quantum initiative represents a transformative public-private partnership that could significantly enhance IonQ's market position. The planned expansion to a 100,000 square feet facility and commitment to double the workforce to 250 people in Maryland signals strong growth trajectory. Strategic proximity to federal government agencies positions IonQ favorably for lucrative government contracts.

This initiative mirrors the historical development of Silicon Valley, where government funding and academic partnerships created a powerful tech ecosystem. The parallel suggests potential for substantial long-term value creation and regional economic multiplication effects. For investors, this represents a strategic moat-building exercise that could cement IonQ's leadership in quantum computing commercialization.

Technology Industry Analyst

This partnership strategically positions IonQ at the nexus of academia, government and industry - a important advantage in the quantum computing sector. The investment in infrastructure and talent pipeline development through high school education programs creates a sustainable competitive advantage. By serving as the anchor partner, IonQ gains preferential access to cutting-edge research, talent recruitment and government relationships.

Think of this as establishing a quantum computing version of Silicon Valley's Stanford-industry symbiosis. The initiative's focus on both quantum computing and networking services indicates a comprehensive approach to building quantum infrastructure, potentially accelerating commercial adoption timelines.

Economic Development Expert

The initiative's structure mirrors successful tech hub developments like Research Triangle Park. The commitment to create diverse high-skilled jobs across construction, engineering and operations sectors indicates substantial economic multiplier effects. The involvement of state government through budget allocation and incentives reduces execution risk and provides fiscal support for long-term growth.

For a company with a $6.1 billion market cap, securing anchor position in a $1 billion state-backed initiative represents significant leverage of public resources for private sector growth. The focus on workforce development and education ensures a sustainable talent pipeline, critical for long-term success in the quantum computing industry.

IonQ to serve as anchor partner to this endeavor

IonQ to spearhead cutting-edge quantum computing and networking services as part of this initiative

COLLEGE PARK, Md.--(BUSINESS WIRE)-- IonQ (NYSE: IONQ), a leader in the quantum computing and networking industries, today announced a landmark partnership with the University of Maryland and the State of Maryland with the aim to establish Maryland as the “silicon valley” of the quantum computing industry. The proposed initiative will aim to fuel the growing quantum economy of the U.S. capitol region, provide access to IonQ’s cutting-edge quantum technology, and dramatically strengthen Maryland’s workforce with new quantum-focused jobs.

Artist rendering of IonQ Building at the University of Maryland Campus (Photo: Business Wire)

As part of today’s announcement of the “Capital of Quantum” initiative’s goal of catalyzing more than $1 billion in investments towards Maryland becoming the “Capital of Quantum,” IonQ intends to anchor a state-of-the-art quantum intelligence campus based at the University of Maryland at College Park.

Subject to available incentives and the enactment of Governor Wes Moore’s FY 2026 budget, IonQ will also grow its corporate headquarters into a 100,000 square feet facility with a data center, laboratories, and office space within the Discovery District at the University of Maryland. Additionally, IonQ intends to double its corporate headquarters workforce to at least 250 people in the Maryland region over the next five years. Today's announcement, once approved by the legislature and documented between the parties, is expected to create high-paying and skilled jobs in diverse fields such as construction, software and hardware engineering, operations, applied physics, networking, and more.

IonQ, the University of Maryland and others intend to work on developing state-of-the-art quantum computers and quantum networking to build the next generation of computing and the ultra-secure Quantum Internet. In addition, IonQ intends to work with the University of Maryland to create course materials for use by Maryland high school students who are interested in learning about quantum technologies and related fields.

“Investing in quantum computing is investing in Maryland's future,” said Peter Chapman, President and CEO of IonQ. “Through Governor Moore’s strategic economic development initiative and proposed investment in quantum, he is not only supporting cutting-edge research and innovation but fostering economic growth and job creation in the state. The Governor's commitment is a testament to his vision for the pivotal role that quantum science will play in the state’s economic development and technological leadership. This investment will also enhance our collaboration with the University of Maryland to solidify the region as a global leader in quantum innovation.”

“Quantum information science has the potential to transform every sector, from national security to healthcare,” said Gov. Moore. “With our wealth of talent, federal partners, and the world-class research universities here in Maryland, we have both the opportunity and the responsibility to seize this moment and become the world’s leading hub for quantum innovation.”

The $1 billion Capital of Quantum initiative focuses on expanding the availability of quantum computing and networking to academia, industries, government and researchers to solve some of the world’s most challenging problems. Subject to State of Maryland budget approval and agreement between the parties, IonQ will become the anchor partner to this initiative delivering on Gov. Moore’s vision, and will be joined on the quantum intelligence campus by leading researchers from the top quantum initiatives throughout the U.S. government.

“We are deeply grateful to Governor Moore for his visionary investment in building a brighter future for Maryland’s economy,” said University of Maryland President Darryll J. Pines. “He recognizes the immense potential of quantum technology and the possibilities we can unlock if we work together to position our region as the global Capital of Quantum. We look forward to collaborating with the Governor’s office and regional partners to ensure that this investment yields lasting benefits for all Marylanders.”

The University of Maryland is world renowned as one of the leading universities in quantum technologies with over 35 years of prior research and development experience. IonQ started its journey as a startup located within the Discovery District at the University of Maryland campus, and many of its employees were educated by the University of Maryland. IonQ is the first startup within the Discovery District to go public on the New York Stock Exchange and today employs over 400 people worldwide. Today’s announcement will extend IonQ’s already close partnership with the University of Maryland and the State of Maryland and offer the company a key advantage in pursuing government contracts and partnership given the campus’s proximity to federal and state governments in Washington, D.C., and Annapolis, MD, respectively.

For more information about IonQ’s latest advancements, visit https://ionq.com.

About IonQ

IonQ, Inc. is a leader in the quantum computing and networking industry, delivering high-performance systems aimed at solving the world’s largest and most complex commercial and research use cases. IonQ’s current generation quantum computers, IonQ Forte and IonQ Forte Enterprise, are the latest in a line of cutting-edge systems, boasting 36 algorithmic qubits. The company’s innovative technology and rapid growth were recognized in Newsweek’s 2025 Excellence Index 1000, Forbes’ 2025 Most Successful Mid-Cap Companies list, Built In’s 2025 100 Best Midsize Places to Work in Washington DC and Seattle, respectively. Available through all major cloud providers, IonQ is making quantum computing more accessible and impactful than ever before. Learn more at IonQ.com.

IonQ Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “will,” “aim,” “aims,” “intends,” “plans,” “goal,” “expects,” “expected,” and other similar expressions are intended to identify forward-looking statements. These statements include those related to IonQ’s plans to develop and deliver quantum computing and networking services, quantum-focussed curriculum and training, and to help create a secure quantum-based internet; the company’s role in Maryland and the University of Maryland’s quantum-focussed initiatives; IonQ’s plans to hire additional employees in Maryland and expand its facilities in Maryland; expansion of the “quantum economy” in Maryland, including the creation of quantum-focussed jobs; IonQ’s expected work with leading researchers; and the expansion of existing partnerships and possibilities for new partnerships and customer contracts. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: the Maryland legislature’s failure to approve this quantum initiative and the proposed budget, or the state of Maryland not spending funds allocated for this quantum initiative; the failure of IonQ and University of Maryland to enter into a binding agreement for the contemplated activities; IonQ’s ability to implement its business plans and strategies, technical roadmap and projects; any disruptions and other problems with the company’s operations including research and development, hardware, systems, components or facilities; IonQ’s ability to attract and retain its key employees and other personnel with specialized knowledge; any changes or inadequacies in IonQ’s quantum computing and networking capabilities and plans; IonQ’s relatively limited history in development quantum networking technologies; any inadequacies in the overall pace of technology development in the quantum industry, including inadequate advances in the state of quantum networking, quantum systems and quantum internets; the capability of the company’s quantum systems and quantum networks to provide certain capabilities and advantages; and changes in laws and regulations affecting IonQ, its assets or the quantum sector generally. You should carefully consider the foregoing factors and the other risks and uncertainties disclosed in the Company’s filings, including but not limited to those described in the “Risk Factors” section of IonQ’s most recent Quarterly Report on Form 10-Q and other documents filed by IonQ from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and IonQ assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. IonQ does not give any assurance that it will achieve its expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250114132581/en/

IonQ Media contact:

Jane Mazur

press@ionq.co

IonQ Investor Contact:

investors@ionq.co

Source: IonQ

FAQ

What is the size of Maryland's 'Capital of Quantum' initiative involving IONQ?

The 'Capital of Quantum' initiative aims to catalyze more than $1 billion in investments to establish Maryland as the quantum computing industry hub.

How many jobs will IONQ create in Maryland over the next 5 years?

IonQ plans to double its corporate headquarters workforce to at least 250 people in the Maryland region over the next five years.

What is the size of IONQ's planned facility expansion at University of Maryland?

IonQ plans to expand into a 100,000 square feet facility including a data center, laboratories, and office space within the Discovery District.

What are the key components of IONQ's partnership with University of Maryland?

The partnership includes developing quantum computers and networking, creating educational materials for high school students, and establishing a quantum intelligence campus.

What conditions must be met for IONQ's expansion plans to proceed?

The expansion plans are subject to available incentives and the enactment of Governor Wes Moore's FY 2026 budget approval.