This story was made possible through support from TEDCO, the Maryland Technology Development Corporation, which enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at tedcomd.com.
Another budget cycle, another major push for quantum from Gov. Wes Moore.
Moore’s proposed fiscal year 2027 budget earmarks $74 million for quantum investments, underscoring the administration’s continued focus on the sector.
The proposed spending comes as the state faces a budget shortfall.
Instead of raising taxes, Moore’s plan relies on other cuts and reallocations, including a $150 million reduction for the Developmental Disabilities Administration and nearly $300 million diverted from a fund intended for renewable energy initiatives.
Keep reading to learn more about Moore’s quantum ambitions for the year ahead, plus details about a new staffing agency coming to Baltimore.
Moore’s budget proposes massive quantum funds
Moore is furthering his efforts to make Maryland a leader in quantum, with his proposed budget aiming to make the University of Maryland (UMD) the state’s quantum hub.
“It directly strengthens UMD’s research enterprise by supporting world-class facilities and attracting industry partners like Microsoft and IonQ.”
Corey Stambaugh, director of the Capital of Quantum Initiative at the university of maryland
That includes $22 million to expand UMD’s Quantum Startup Foundry, which supports early-stage quantum companies. Since the launch of Moore’s quantum initiative, nearly a dozen startups have joined the university’s growing quantum ecosystem.
The budget also backs one of UMD’s quantum heavyweights: IonQ. The publicly traded spinout had threatened to leave Maryland last year if the General Assembly didn’t approve $10 million for a new headquarters at the university’s Discovery District.
The proposed budget designates $20 million to continue building out a 100,000-square-foot facility with labs, offices and a data center, part of a broader $50 million, multi-year commitment.
Funding would also go toward developing Microsoft’s new quantum laboratory at the university, per a UMD spokesperson.
“These continued investments from the state cement Maryland’s leadership in the global race for quantum discovery,” Corey Stambaugh, UMD’s director of the Capital of Quantum Initiative, wrote in an email. “It directly strengthens UMD’s research enterprise by supporting world-class facilities and attracting industry partners like Microsoft and IonQ.”
Moore previously described the investments as a strategy to strengthen Maryland’s economy and lessen dependence on federal support.
“This is not a fad, or a one-year thing,” Moore said during a speech at the Quantum World Congress in September. “This is a core part of economic strategy.”
Additional allocations include $20 million for a deep tech facility at the Discovery District to test new quantum technologies and $12 million to recruit more faculty experts.
The governor launched the Capital of Quantum initiative last January, a public-private partnership designed to channel $1 billion into Maryland’s quantum ecosystem over the next five years.
Gov. Moore’s office did not respond to requests for comment on the proposed measures.
$600k toward new workforce initiative
National nonprofit organization GreenLight Fund is investing $600,000 to bring a new staffing agency to Baltimore.
First Step Staffing provides job placements through employer staffing contracts and offers support services such as transportation and training.
Over the next five years, First Step Staffing aims to place 1,100 Baltimore residents in jobs, according to a release. Training and certification opportunities are tailored to participants’ skills and the needs of employer partners, with a focus on high-demand sectors.
In Baltimore, those sectors are the logistics industry, with the strength of the Port of Baltimore, and support roles within the university systems.
First Step has primarily operated in skilled trades. Some participants have pursued tech training through partnerships with organizations such as Per Scholas, which also focuses on workforce development, per a GreenLight spokesperson.
More money moves
- The National Science Foundation named the University of Maryland a top 10 public institution in research spending.
- Baltimore-based Tech Row landed $500,000 for its streaming platform from TEDCO’s Inclusion Fund and Venture Fund.
- Silvec Biologics, a Columbia-based biotech company, nabbed $250,000 through TEDCO’s Inclusion Fund.
- Columbia-based Pirl Technology received $100,000 from TEDCO’s Pre-Seed Builder Fund to continue its electric vehicle charger research.
- APG Federal Credit Union is offering up to $75,000 in scholarship funding to Baltimore-area students to support higher education and career training.
- Cybersecurity company Balance Theory raised $2.3 million, according to a SEC filing.
