Prince George’s County continues to be a major draw for business development, even inspiring an international business to open a new office locally.
Nanofiber Quantum Technologies, Inc. (NanoQT) is opening an office in College Park, bringing the Japanese quantum hardware startup to the DMV.
The company’s expansion is supported by a partnership with the University of Maryland’s Quantum Startup Foundry and funding from the Maryland Department of Commerce’s Global Gateway Program.
“Maryland is a uniquely valuable location for quantum startups,” said Masashi Hirose, CEO of NanoQT. “With the state’s quantum talent pool centered around the University of Maryland, a network of collaborators and end-users, and strong support from state leadership, Maryland is an ideal environment to foster quantum innovation. The state’s proximity to Washington, D.C., and its established track record in nurturing quantum startups make it an exceptional base for our U.S. operations.”
University of Maryland’s Quantum Startup Foundry Director Piotr Kulczakowicz is excited for this new partnership.
“Their unique technology and strategic position, operating between Japan and the U.S., will bring innovation and energy to the community,” Kulczakowicz explained.
Purple Line Progress Propels New Business Opportunities
Progress on the Purple Line, a long-promised transit project that would connect Montgomery County with Prince George’s, has helped to spur building development and acquisition in the County.
Dominium Apartments, a Minneapolis-based housing developer, purchased a plot of land in Hyattsville for $4 million, with the goal of building 245 affordable rental units for those earning 60% or less of the area’s median income. This will be their first.
In addition, a block of townhouses near DeMatha High School is now listed for sale and will be welcoming new residents in May. Each townhome will be sold for roughly $725,000.
Some of the local amenities include Yes Organic Market, Busboys and Poets, a nearby Whole Foods and Franklin’s, a combination microbrewery, toy store, and restaurant.