New York invests $360 million in quantum technology sector

Governor Kathy Hochul has announced a $360 million investment to advance New York’s quantum technology sector. The funding is intended to accelerate the commercialization of quantum research, attract private investment, and drive economic growth and job creation.

A state-commissioned study by NYSTAR and The Quantum Insider ranks New York second nationally in quantum-related businesses, research groups, and patent families, trailing only California. The report identified 134 operating entities, 219 research groups, and 734 patent families within the state.

New York is noted as one of only two states with capabilities spanning the entire quantum value chain, from basic research and manufacturing to commercial applications. These assets are distributed across the state, including Brookhaven National Laboratory on Long Island, chip research in the Capital Region, and optics and photonics in the Finger Lakes. To maximize economic gains, the study suggests the state improve coordination, access to specialized facilities, technician training, and early-stage financing.