Florida wins again: Quantum computing company joins exodus from high-tax California
As states compete for the next generation of high-tech and innovation-driven jobs, Florida has scored another major win.
D-Wave Quantum Inc., a publicly traded pioneer in quantum computing, announced it will relocate its corporate headquarters from Silicon Valley to Boca Raton, Florida, betting on the state’s rapidly expanding technology ecosystem.
"Florida represents one of the fastest growing technology ecosystems in the United States, and as such it was the ideal choice for our new corporate headquarters and U.S. R&D facility," D-Wave CEO Dr. Alan Baratz said in a company press release. "The state offers a rich scientific and educational environment, a growing pool of highly skilled tech talent, and a vibrant spirit of innovation that made it attractive to D-Wave."
The company plans to complete its transition to the new headquarters by the end of 2026 and is expected to create hundreds of high-paying technology and research-and-development jobs in the area. D-Wave said demand for its quantum technology continues to rise, and the new headquarters will help accelerate innovation and product development.
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It joins a growing list of technology executives and companies relocating from California’s Golden State to Florida’s Sunshine State in recent months, as tensions mount over a proposed one-time 5% wealth tax in California.
D-Wave develops two types of custom quantum computers designed to solve complex problems much faster than traditional systems. Its customers include government agencies, Fortune 500 enterprises and leading research institutions.
The Boca Raton headquarters will include the company’s main research-and-development facility spanning 25,000 square feet inside the Boca Raton Innovation Campus (BRiC)—the same site where IBM developed the first personal computer in 1981.
The city has also been bullish on D-Wave’s move, with Florida Atlantic University committing $20 million to a partnership that will install one of the company’s Advantage2 quantum computers at the school’s Boca Raton campus.
Located between West Palm Beach and Miami, Boca Raton city officials launched a campaign last year urging business leaders to relocate their families and companies south—an effort that appears to have resonated with corporations such as D-Wave.
"The threat of people leaving high-tax, high-crime jurisdictions like New York and other places is real," Boca Raton Mayor and U.S. congressional candidate Scott Singer told Fox News Digital in October.
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"It's been happening for years, and Boca Raton has been the beneficiary of a lot of businesses bringing their corporate headquarters and high-paying jobs here. I think the threat is even more real. People are already preparing to leave… we're going to see a lot more people looking to bring their businesses here and create jobs in Boca Raton."
"By welcoming D-Wave’s flagship U.S. R&D operations and its global headquarters to the Boca Raton Innovation Center," Singer said in the company’s press release, "we are strengthening our position as a destination for advanced innovation, attracting top-tier technology talent and laying the foundation for long-term economic growth."