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California to Florida: Quantum Computing Moves HQ to Boca in 25K-SF Lease
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Commercial Observer
D-Wave Quantum signed a 25,000-square-foot lease to move its headquarters from Silicon Valley to Boca Raton, Fla., where IBM developed the first personal computer decades ago.
The quantum computing company will move from Palo Alto, Calif., into the Boca Raton Innovation Campus (BRiC) by the end of the year.
The State of Florida is expected to provide $5 million in incentives, $300,000 in grants, and a $1.35 million yearly tax credit for the next two decades.
The City of Boca Raton will grant up to $500,000 in incentives if the company’s move creates 100 new jobs that pay at least $125,000 annually over the coming five years.
Separately, Florida Atlantic University will pay $20 million to buy and install D-Wave Quantum’s annealing quantum computer on its campus, the university’s president, Adam Hasner, announced.