The Illinois Finance Authority (IFA) is pleased to announce the recent successful closing on a $15 million loan to Pasqal, a French company and leader in quantum computing. Pasqal will establish their U.S. headquarters as a future tenant of the Illinois Quantum and Microelectronics Park (IQMP) on Chicago’s South Side.
With support from the State’s Manufacturing Illinois Chips for Real Opportunity Act (MICRO) Program and IFA’s loan, Pasqal will invest more than $65 million in their first U.S. location and create 50 new full-time jobs. Pasqal’s facility will include a space to house one of the company’s quantum processing units onsite.
“Through this working capital loan to Pasqal, the volunteer board members and effective staff of the Illinois Finance Authority proudly join Governor Pritzker’s call to action to make Illinois a global leader in quantum technology and commercialization, quantum investment, and importantly, good quantum jobs for the people of Illinois,” said Chris Meister, Executive Director of IFA. “While helping meet Pasqal’s capital and commercial needs, this IFA loan appropriately balances sound stewardship of public funds with the potential for good and diverse Illinois jobs represented by a sustainable Illinois quantum economy.”
Learn more here: Press Release
