Quantum technology is expected to create significant economic impact in the Illinois-Wisconsin-Indiana region between 2024 and 2035.
The CQE community leverages the region's deep expertise to build robust cross-sector partnerships and foster strong government engagement. This provides the foundation for the commercialization and workforce development efforts that are expected to drive significant economic impact over the next decade.
A 2024 analysis by Boston Consulting Group for the Chicago Quantum Exchange projected a quantum technology economic impact of up to $80 billion for the Illinois-Wisconsin-Indiana region by 2035.
This growth, however, assumes continued government investment. Right now, the Illinois-Wisconsin-Indiana region has an advantage — and, with support, the region is on pace to become the nation's leading zone for quantum innovation.
- Globally, total quantum economic value creation is projected to grow to nearly $1 trillion by 2035 from about $3 billion today.
- In the Illinois-Wisconsin-Indiana region, total quantum economic value creation could reach nearly $80 billion by 2035. That represents huge growth: right now, the economic impact of quantum technologies in Illinois-Wisconsin-Indiana is roughly $60 million.
- In Illinois-Wisconsin-Indiana, quantum tech providers (companies who are developing quantum technology) are expected to drive much of this growth, creating as much as $60 billion in economic impact — and capturing as much as 30% of the global share.
Boston Consulting Group for the Chicago Quantum Exchange, 2024. This material is based upon work supported by the US National Science Foundation (NSF) under Award 2315739, a Regional Innovation Engine Development Award: Advancing quantum technologies in the Midwest. Any opinions, findings and conclusions or recommendations expressed in this material do not necessarily reflect the views of the NSF.
Read about the CQE's research on quantum job accessibility.