$360 million for quantum tech: New York ranks itself No. 2 in the U.S.
A state-commissioned study counts 134 quantum companies and 734 patent families. Governor Hochul is betting on new research and start-up hubs.
Archive image · Photo: Marc A. Hermann / MTA / Wikimedia Commons, CC BY 2.0 (cropped and resized)
New York State wants to move to the front of the quantum technology race. On Friday, Governor Kathy Hochul presented a study that ranks New York second only to California for quantum-related businesses, research groups and patents. It counted 134 operating entities, 219 research groups and 734 patent families across ten regions, and said New York is one of two states covering the full value chain from research and manufacturing to commercial applications. The study was commissioned by the state innovation agency NYSTAR and prepared by industry publication The Quantum Insider, which also reported on it.
The state is providing a total of $360 million: $300 million for a research and innovation hub at Stony Brook University and $60 million from the fiscal 2027 budget for up to four regional quantum commercialisation hubs, each with its own start-up incubator. The authors project $2.3 billion to $5 billion in economic activity and 7,200 to 10,100 job-years through 2036. Governments worldwide have committed an estimated $42 billion to quantum technology, according to the study, including $8.9 billion from the U.S. federal government. Senator Charles Schumer said: “Quantum technology will define the next century of innovation, and New York is where that future is being built.”