MEDIA RELEASE - LABOR’S PROMISE TO BUILD WORLD’S FIRST QUANTUM COMPUTER IN DOUBT 

PAUL FLETCHER MP

Shadow Minister for Government Services and the Digital Economy

Shadow Minister for Science and the Arts

Manager of Opposition Business in the House

MEDIA RELEASE

Wednesday, 11 December 2024

Labor’s promise to build the world’s first fault tolerant quantum computer in Brisbane is in doubt, with revelations that American company PsiQuantum’s Chicago quantum project is advancing quickly while the Brisbane project drifts.

Three months after the Albanese Government announced its controversial decision to invest almost $1 billion of taxpayers’ money in PsiQuantum, the US State of Illinois, Cook County and the City of Chicago agreed to a US$500 million package of incentives to secure the company as the anchor tenant at Chicago’s Quantum and Microelectronics Park.

The Chicago Plan Commission has now approved the creation of this park at the vacant US Steel South Works facility, bringing this project a step closer.

Subject to other planning approvals, construction could commence in early 2025, with an estimated US$600 million of building works expected over the next six to eight months. 

Shadow Minister for Science Paul Fletcher said the speed at which the Chicago project is moving stands in stark contrast to the lack of progress in Brisbane.

“It’s been more than seven months since Labor made this signature announcement, but they have nothing to show for it,” Mr Fletcher said.

“PsiQuantum has no real office in Australia, no construction timeline has been released and no real jobs have been created. Chicago is leaving us in the dust.

“This investment followed a terrible process, and Labor’s inability to secure exclusivity for this deal has been massively exposed.”