D-Wave Relocates Headquarters and Expands Operations
Quantum computing company D-Wave is relocating its headquarters from California to Boca Raton, Florida, where it will also open a new research and development facility.
New Florida Campus Unveiled
The Palo Alto-based company announced that its new office will be housed within the Boca Raton Innovation Campus by the end of the current year. This 1.7-million-square-foot facility, previously utilized by IBM, is historically noted as the birthplace of the personal computer.
Alan Baratz, D-Wave's Chief Executive, highlighted several factors drawing the company to the Sunshine State:
"Florida's scientific and educational environment, expanding pool of skilled tech talent, and innovative culture were key attractions for the company."
Context of Relocation Trends
D-Wave's move occurs amidst a broader trend of companies either opening new offices or relocating operations out of California, reflecting increased competition for job creation.
California remains a prominent technology hub, hosting industry giants such as Google, Apple, and Meta. Previously, cryptocurrency startup BitGo also announced a move to South Dakota.
A company spokesperson clarified that D-Wave's relocation decision was not connected to California's proposed Billionaire Tax Act, which would implement a one-time 5% tax on the total wealth of Californians exceeding $1 billion. D-Wave will retain its offices in Palo Alto and Marina del Rey.
Economic Incentives and Strategic Benefits
In January, the Boca Raton City Council approved a resolution identifying a tech company, later confirmed as D-Wave, as a qualified applicant for economic development incentives.
D-Wave is eligible to receive up to $500,000 as a relocation incentive. This move is projected to create 100 new jobs in Boca Raton over the next five years, with an average annual salary not less than $125,000.
The company had also considered Tennessee and North Carolina as potential relocation sites, in addition to remaining in California. The new Florida site will provide D-Wave with a "bicoastal presence for system redundancy in the case of disaster recovery."
Expanding Quantum Computing Presence
D-Wave plans to install a quantum computer at Florida Atlantic University's Boca Raton campus, part of a $20-million agreement. The company, founded in 1999, identifies itself as the world’s first commercial supplier of quantum computers, which are designed to solve complex problems more rapidly than classical computers.
The quantum market is projected to reach approximately $100 billion by 2035, with most revenue growth originating from quantum computing, according to a 2025 McKinsey & Company report. D-Wave currently employs over 200 individuals.