The Albanese and Miles Governments are harnessing the power and potential of quantum technologies to help deliver a Future Made in Australia and make Brisbane a tech manufacturing powerhouse.<\/p>\n\n\n\n
The Australian and Queensland Governments will invest almost $1 billion into frontier technology company PsiQuantum to build the world\u2019s first fault tolerant quantum computer in Brisbane.<\/p>\n\n\n\n
PsiQuantum\u2019s co-founders include Australians Professor Jeremy O\u2019Brien and Professor Terry Rudolph, and the beginnings of its world leading computing approach were developed by Professor O\u2019Brien at the University of Queensland.<\/p>\n\n\n\n
This investment marks the start of a manufacturing and production partnership with Queensland and Australia that will create up to 400 new highly skilled ongoing jobs with the company.<\/p>\n\n\n\n
Quantum computers are considered the next major development in computing, delivering tremendous data processing power, well beyond the capabilities of today\u2019s super-computers.<\/p>\n\n\n\n
That processing power can help solve problems conventional computers can\u2019t and can help drive advances in areas like new medicines, AI and the net zero transition.<\/p>\n\n\n\n
PsiQuantum is a global leader in quantum computing and has attracted significant private investment.<\/p>\n\n\n\n
The joint government investment into PsiQuantum will secure its Asia-Pacific headquarters in Brisbane.<\/p>\n\n\n\n
This will mean hundreds of direct jobs and billions of dollars of direct investment in Australia by PsiQuantum \u2013 investment that would otherwise have gone overseas.<\/p>\n\n\n\n
As a result the company will become a cornerstone customer of Australia\u2019s digital, quantum and AI supply chains, adding further economic value to the nation.<\/p>\n\n\n\n
The joint Commonwealth-Queensland investment includes approximately $470 million in equity and loans from each government.<\/p>\n\n\n\n
As part of this investment, PsiQuantum will:<\/p>\n\n\n\n
This investment aligns with the Government\u2019s commitments under the National Quantum Strategy.<\/a><\/p>\n\n\n\n \u201cIt takes great partnerships to build new industries. We need to make bold investments today if we want to see a Future Made in Australia.<\/p>\n\n\n\n \u201cWe are proud to be working with the Queensland Government to make visionary investments in the future of our nation.<\/p>\n\n\n\n \u201cThis investment shows we are serious about building a strong quantum ecosystem here in Australia.\u201d<\/p>\n\n\n\n \u201cToday\u2019s announcement cements Queensland\u2019s position as a global leader in the quantum technology industry, backed by our dedicated Quantum and Advanced Technologies Strategy.<\/p>\n\n\n\n \u201cQuantum will bring billions in economic opportunity to Queensland, which will deliver thousands of high paying tech jobs and the chance for Queenslanders to work in careers that will change the world.<\/p>\n\n\n\n \u201cThis investment partnership is as significant for Queensland and the nation as the first silicon microprocessors were to California that established Silicon Valley.<\/p>\n\n\n\n \u201cQueensland and Australia will now be at the epicentre of this world changing technology.\u201d<\/p>\n\n\n\n \u201cQuantum tech will drive the growth of advanced manufacturing and the Albanese Government sees this investment in PsiQuantum as a big part of that effort.<\/p>\n\n\n\n \u201cWe want to build the quantum tech sector with local talent and we want to bring talented Aussies home to meet our national ambition to make Australia a centre for quantum growth.<\/p>\n\n\n\n \u201cAustralia built one of the world\u2019s first digital computers, only to give up our chance to design and develop computing here.<\/p>\n\n\n\n \u201cJohn Howard\u2019s Government turned its back on the chance to manufacture computer chips in Australia.<\/p>\n\n\n\n \u201cAustralia has hugely talented people with great ideas that want to build strong companies and secure jobs. That\u2019s going to help us deliver a Future Made in Australia.\u201d<\/p>\n\n\n\n \u201cThe Queensland Government is delivering on our plan to create more jobs in more industry by diversifying our state\u2019s economy.<\/p>\n\n\n\n \u201cThis deal is the result of years of hard work and planning by Queensland Treasury officials, and I congratulate them on this achievement.<\/p>\n\n\n\n \u201cThere will be very few seats at the table when it comes to global leadership in quantum technology, and today\u2019s announcement ensures Queensland will have a place.\u201d<\/p>\n\n\n\n \u201cQuantum computing is a transformational and strategically important technology. It will disrupt all sectors of society. Australia is perfectly placed to achieve a globally significant quantum industry, but we can\u2019t take a business-as-usual approach to realising this potential.<\/p>\n\n\n\n \u201cWe must take advantage of the quantum technology wave to reach the industry scale needed by attracting quantum companies to set up manufacturing here. This investment shows that Australia is serious about its quantum industry development by ensuring we are at the front of the pack in the global race to build the first useful quantum computer.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" The Albanese and Miles Governments are harnessing the power and potential of quantum technologies to help deliver a Future Made in Australia and make Brisbane a tech manufacturing powerhouse. The Australian and Queensland Governments will invest almost $1 billion into frontier technology company PsiQuantum to build the world\u2019s first fault tolerant quantum computer in Brisbane. … Continue reading “Delivering a Future Made in Australia with 400 new technology jobs in Brisbane”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-26346","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/26346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=26346"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/26346\/revisions"}],"predecessor-version":[{"id":26347,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/26346\/revisions\/26347"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=26346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=26346"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=26346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Prime Minister Anthony Albanese:<\/h2>\n\n\n\n
Queensland Premier Steven Miles:\u00a0<\/h2>\n\n\n\n
Minister for Industry and Science, Ed Husic:<\/h2>\n\n\n\n
Queensland Deputy Premier and Treasurer, Cameron Dick<\/h2>\n\n\n\n
Australia\u2019s Chief Scientist, Dr Cathy Foley:<\/h2>\n\n\n\n