A new quantum bill intended to maximize Colorado’s competitiveness as a tech hub and strengthen the state’s economy will also create new opportunities at the University of Colorado Boulder.

The bill, introduced to the state legislature on Friday, would incentivize quantum businesses to set up shop with greater access to capital through a quantum industry loan loss reserve. According to a release, it would also invest $44 million in refundable state income tax credits to help fund the development of a shared quantum research facility for academic and private sector collaboration.

Of that, $29 million would be available specifically to build a University Quantum Incubator led by CU Boulder and its fellow Colorado research universities, in partnership with industry partners and co-located with the Elevate Quantum Lab. It’s estimated these investments will create 10,000 Colorado jobs.

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