A former Campbell Soup factory in Toronto is getting a new life as a high-tech facility for quantum computing company Xanadu Quantum Technologies.
The federal government announced $195 million in repayable funding Friday to help Xanadu build advanced manufacturing facilities for its quantum computers.
The 158,000-square-foot site is expected to cost about $893 million and create 275 jobs.
Founded in 2016, Xanadu develops quantum computers that use light instead of electricity. The company says its technology could help advance artificial intelligence, medical research, cybersecurity and other industries.
Federal AI and Digital Innovation Minister Evan Solomon said quantum computing is becoming increasingly important to Canada’s economy and national security.
“Unless we are at the frontier with Canadian companies on quantum computing, we will be vulnerable in the future,” Solomon said.
The funding is part of Canada’s $360-million National Quantum Strategy launched in 2023. It is the federal government’s largest single investment in manufacturing quantum technology.
Xanadu CEO Christian Weedbrook said the funding will help the company keep much of its research and manufacturing work in Canada.
Ontario is also in talks with Xanadu about providing up to $195 million in additional support.
