Maryland Sends Millions in Taxpayer Funds to a Publicly Traded Quantum Company—That’s Expanding in Tennessee

By Greg Visscher & Michael Phillips

In a twist that raises serious questions about Maryland’s budget priorities, a for-profit quantum computing company headquartered in College Park—IonQ, Inc.—is poised to receive a massive infusion of public funds from Maryland taxpayers, even as it announces major expansion plans… in Chattanooga, Tennessee.

Let that sink in.

The Timeline

On April 25, 2025, IonQ, Inc., a publicly traded company valued at over $5 billion, made a splashy announcement: it’s expanding into Tennessee. Chattanooga, to be specific.

Just weeks earlier, Maryland’s Democrat-dominated General Assembly finalized the state budget for fiscal year 2026. That budget, loaded with tax and fee hikes for Maryland families, included a $27 million+ grant earmarked to support “quantum computing companies and startup operators in College Park.”

Except there’s one problem: IonQ is the only such company. That means all of this taxpayer-funded “innovation investment” is effectively going to a single publicly traded company—IonQ, Inc.

Let’s Talk About IonQ

IonQ isn’t your scrappy garage startup struggling for oxygen in the harsh climate of private investment. It’s a well-capitalized, publicly traded corporation (NYSE: IONQ), whose shares have skyrocketed over 215% in the last year alone, trading at around $28 per share at the time of this article.

They’re also a participant in DARPA’s QBI program, a major Department of Defense initiative to scale utility-grade quantum computing technologies. In other words, IonQ is doing just fine attracting federal support and private sector interest.

So why is Maryland tossing $27 million of state taxpayer money at them?

Follow the Money… Right Out of State

This isn’t just a questionable use of public funds—it’s a slap in the face to Maryland taxpayers. IonQ’s own press release didn’t mention the state grant, but it had plenty to say about its Tennessee expansion. While the public doesn’t know whether IonQ is receiving Tennessee incentives as well (yet), what we do know is this:

• Maryland taxpayers are subsidizing a company that’s expanding in another state.
• Meanwhile, Maryland’s middle class is being hit with tax increases and fee hikes.
• IonQ, with access to Wall Street capital and federal defense contracts, doesn’t need a bailout from Annapolis.

A Troubling Pattern

Unfortunately, this kind of corporate favoritism is not new in Maryland. The state has a history of pouring public money into trendy tech or biotech firms with the hope that it will generate jobs and prestige—often with little oversight or follow-up.

But this case is particularly egregious.

IonQ’s success story could have been a genuine point of pride for Maryland’s tech sector—until the budget made clear that taxpayer funds were being funneled into a company that appears to be looking elsewhere for its growth.

Maryland families are being asked to pay more to live and work in the state, while corporations like IonQ enjoy government handouts and then take their expansion across state lines.

Questions That Deserve Answers

The Maryland public—and its press—should be demanding immediate answers from the Governor’s Office, the Maryland Department of Commerce, and the legislative budget committees:

• Why was $27 million approved for a company with access to public capital markets and federal contracts?
• What guarantees are in place to ensure IonQ’s Maryland investment stays in Maryland?
• What due diligence was done to justify this appropriation?
• And finally—why are Maryland families footing the bill for a publicly traded company’s out-of-state expansion?

It’s time for accountability—not just from IonQ, but from the officials who enabled this lopsided deal.