Quantum computing company ditches California for Florida

D-Wave picks Boca Raton over Palo Alto

D-Wave Quantum Inc., a publicly traded quantum computing company, announced in late January 2026 that it will move its global headquarters from Palo Alto, Calif., to Boca Raton, Fla.

The company trades on the New York Stock Exchange under the ticker QBTS and plans to finish the move before the end of 2026. CEO Dr. Alan Baratz said Florida’s growing technology scene, skilled talent, and spirit of innovation made it the right choice.

D-Wave builds quantum computers for business

D-Wave was founded in 1999 and calls itself the world’s first commercial supplier of quantum computers. These machines can solve certain complex problems much faster than traditional computers.

D-Wave’s technology helps with logistics, finance, supply chain planning, and materials research, and its customers include government agencies, major corporations, and research institutions.

The company went public on the New York Stock Exchange in August 2022 and has grown steadily since.

New home has deep roots in computing

D-Wave’s new headquarters will sit inside the Boca Raton Innovation Campus, known as BRiC. IBM built the 1.7-million-square-foot campus in the late 1960s, and a small team of engineers there secretly developed the first personal computer, which launched in August 1981.

Renowned architect Marcel Breuer designed the campus, which at its peak housed more than 10,000 IBM employees. CP Group bought and renovated it in 2018, turning it into a modern technology hub.

Hundreds of high-paying jobs expected

The move should bring hundreds of high-paying technology and research jobs to the Boca Raton area. D-Wave’s new facility will span 25,000 square feet inside the BRiC campus and serve as the company’s main U.S. research and development hub.

Teams working on quantum computing systems, testing, and support will operate out of the new headquarters. For a region already building its tech reputation, the jobs represent a major boost.

City offered incentives to seal the deal

The Boca Raton City Council approved up to $500,000 in local incentives for D-Wave. Officials negotiated the deal under the confidential code name “Project Vernon.” The incentives are performance-based, meaning D-Wave must create at least 100 full-time jobs, each paying an average salary of at least $125,000.

Local leaders called the agreement a major win for the city’s growing technology reputation. The jobs must materialize before the company collects the full incentive package.

FAU signs $20 million quantum computer deal

Florida Atlantic University signed a $20 million agreement to buy and install one of D-Wave’s Advantage2 quantum computers on its Boca Raton campus.

FAU will become the first university in Florida to host a large, dedicated quantum computer. The partnership includes research opportunities, workforce training, and paid internships for students.

FAU President Adam Hasner called it “a transformational moment for the university.” A D-Wave Quantum Applications Academy will also launch on campus with hands-on learning.

D-Wave joins a wave heading south

D-Wave joins a growing list of companies and executives moving from California to Florida. Wells Fargo announced it will move its wealth management headquarters to West Palm Beach.

Financial firms like Citadel and Goldman Sachs have expanded operations in South Florida, and ARK Invest moved its headquarters to St. Petersburg, Fla.

One report found West Palm Beach saw a 112 percent increase in millionaire growth over the past decade. The trend shows no sign of slowing down.

Proposed California wealth tax stirs debate

A proposed California ballot initiative would impose a one-time 5 percent tax on the wealth of the state’s billionaires.

The tax would apply to anyone who was a California resident as of Jan. 1, 2026. If voters approve it in November 2026, it could raise tens of billions of dollars for health care and other programs.

Critics say the tax could push wealthy residents and businesses out of the state. Gov. Gavin Newsom has opposed the measure, saying it hurts the state’s economy.

D-Wave says tax was not the reason

A D-Wave spokesperson said the company’s decision had nothing to do with California’s proposed wealth tax. The company pointed to Florida’s growing technology ecosystem and talent pool as key reasons for the move.

D-Wave also cited the need for a bicoastal presence for disaster recovery and system backup. The company will keep offices in Palo Alto and Marina del Rey, Calif.

It also has facilities in New Haven, Conn., Burnaby, British Columbia, and Huntsville, Ala.

Florida pushes to become a quantum hub

Florida’s Secretary of Commerce said D-Wave’s move helps establish the state as a center for next-generation computing.

Palm Beach County leaders have worked to attract quantum computing and other emerging technology companies.

An event called Quantum Beach took place in West Palm Beach in October 2025 to promote the area’s tech ambitions. BRiC saw more than 300,000 square feet of new leasing activity in late 2025 alone.

Boca Raton Mayor Scott Singer said the city has played a key role in computing for decades.

What the trend means for job markets

The broader trend of companies leaving high-tax states for low-tax states could reshape job markets on both ends. States that attract new businesses may see growth in local jobs, housing demand, and tax revenue.

States that lose businesses could face lower tax revenue and fewer openings.

Quantum computing remains a developing field, but experts say it could eventually affect industries from health care to shipping. The competition between states to lure companies may lead to more incentive deals ahead.

A historic campus writes its next chapter

The Boca Raton Innovation Campus has gone from IBM’s birthplace of the personal computer to a modern tech hub hosting technology, life sciences, and service companies. D-Wave’s arrival adds quantum computing to that mix.

The campus is expanding to include residential space, retail, a hotel, and a concert venue. For D-Wave, the move marks a new phase as it works to grow its quantum computing business.

The company said the historic campus was a natural fit for a company focused on the future.

This article was created with AI assistance and human editing.

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