Q-Day is the point at which quantum computers will be able to hack through typical encryption, which protects sensitive data on classical computers. The day could come as soon as 2030, according to a report by Bento Lobo, department head of finance and economics at UTC.
The day will mean that quantum computing and networking, which harness the power of atomic and subatomic particles to move information faster and protect data more securely, will become more important.
Partnerships between EPB, quantum computing company IonQ, Oak Ridge National Laboratory and UTC are likely to make Chattanooga a hub for quantum technology as it becomes commercialized, according to the report released earlier this month. The sector could bring as much as $1.1 billion of economic output, income and taxes, as well as 2,000 new jobs to the area by 2035, Lobo found.
"The 'value of quantum' in Chattanooga is both technological and economic — positioning the city as a launchpad for quantum innovation and a strategic destination for future-focused businesses," the report said. "Gig City will be transitioning to Quantum City soon."
Leaders from UTC, Middle Tennessee State, Vanderbilt and Tennessee Tech gathered alongside industry leaders Thursday at UTC to discuss how to commercialize quantum technology. The event, called "Quantum in Action," was the first in a three-part series across the state.
The event followed Gov. Bill Lee's announcement during his final State of the State address in February that Tennessee would launch a statewide quantum initiative that would receive $20 million in nonrecurring public funding in Lee's proposed budget.
"I think we're all here today because we all like to win a little bit," Victoria Hirschberg, chief economic development officer for the UT System, said at Thursday's event. "We're talking about how we win as a state in quantum."
Statewide partnerships around the technology have already connected Chattanooga with other cities. EPB, the city-owned utility, announced in December it would form the Institute for Quantum Innovation alongside Vanderbilt in Chattanooga.
Much of the discussion around quantum in Chattanooga centers on EPB, which is finishing installation of a $22 million quantum computer it purchased from Maryland -based IonQ.
GOOD JOBS
IonQ recently moved into its Chattanooga office in the Edney Innovation Center on Market Street. The company has more than 100 positions open, including roles in business development, said Ryan Harring, director of partnerships and alliances at IonQ.
"I truly believe that there's a gap between what we're doing on the physics and engineering side, and what we need to be doing to actually commercialize these products," Harring said at the UTC event. "We've got to figure out how to translate this very complex topic down in such a way that an executive can understand, so it makes it easier for their adoption."
The quantum computing and sensing industries generated more than $1.4 billion of revenue in 2024, according to the Quantum Economic Development Consortium. The quantum computing sector could be worth $28 billion to $72 billion by 2035, according to a 2025 market analysis by consulting firm McKinsey. The total quantum technology market could reach $198 billion by 2040, according to McKinsey.
UTC received a $3.5 million grant from the National Institute of Standards and Technology in 2024 to establish its Quantum Center. The center is equipping students to go into the growing sector and is positioning Chattanooga as an early leader, said Rick Mukherjee, director of the Quantum Center.
"The type of problems that we can solve are expanding on a quantum computer. We are really at the cusp," Mukherjee said. "You don't want to start building the software when the hardware is ready."
The sector could help Chattanooga unlock a problem faced by other communities with universities, including Knoxville: How to keep science and tech graduates local after graduation.
UTC has been involved in work around quantum since the beginning, said Mina Sartipi, interim vice chancellor for research and a board member at EPB. The utility launched the first commercial quantum network in 2022 alongside a company called Qubitekk, later acquired by IonQ.
"UTC has been there from the beginning," Sartipi said. "Our goal truly is to have high-impact tech jobs here, so our students can graduate and stay in Chattanooga."
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