UPDATE: FAU’s Quantum Deal Builds on D-Wave HQ Win for Boca Raton Under Project Vernon
BOCA RATON, FL (Boca Post) (Copyright © 2026) — Boca Raton officials this week unanimously endorsed the future authorization of up to $500,000 in city incentives aimed at recruiting an unnamed quantum computing company from California, a move city leaders framed as a step toward landing a high-paying technology employer and expanding the city’s job base.
The project was presented under the code name “Project Vernon,” a label used to keep the company’s identity confidential while discussions continue. The council’s vote did not finalize an incentive agreement or publicly identify the company. Instead, it signaled the city’s willingness to move forward with an incentive package at a later date, after the company is announced and the proposal returns for additional council review.
City staff said the relocation could bring 100 new jobs to Boca Raton over the next five years. Under the terms described in the resolution, the average annual salary for positions tied to Project Vernon must remain at or above $125,000 during the retention period for the company to qualify.
The city incentives would be part of a larger package that could include as much as $6.5 million in state tax credits. City Manager Mark Sohaney emphasized the state component during the discussion, describing the program as a tax-credit structure and noting what he said is a strong leverage ratio for local participation.
“It is a tax credit, and we do get state money at a 12 to 1 ratio,” Sohaney said before the vote.
The company at the center of the proposal has been described during the meeting as a publicly traded quantum computing firm currently located in California that has been considering a headquarters relocation to Florida, Tennessee, or North Carolina. Boca Raton’s vote positions the city to compete in that selection process if negotiations continue.
While the company’s identity remains confidential, the discussion landed in a city that has spent years marketing itself as a technology and corporate destination, with local officials and residents frequently pointing to the area’s legacy as a computing hub. Boca Raton’s pitch in recent years has leaned on the long-running footprint of IBM, which established a major presence in the city in 1967 at what is known today as the Boca Raton Innovation Campus.
That history has also helped Boca Raton market itself to newer industries trying to scale. During the meeting, the city’s appeal to tech firms was underscored by the fact that at least one quantum computing company is scheduled to host an annual conference at The Boca Raton resort later this month—an event expected to draw speakers from quantum, defense, and finance companies. The conference itself does not confirm the identity of Project Vernon, but it added another layer to the discussion about why Boca Raton continues to show up in conversations about advanced technology growth.
Some residents who spoke during the meeting urged the council to add more scrutiny to the incentive language before endorsing any future agreement. One speaker focused on the salary requirement, arguing that an “average salary” threshold could be met in a way that does not guarantee broadly high wages across the workforce—for example, if a small number of very high-paid executives raise the average across a larger set of lower-paid positions.
Despite that concern, the council approved the resolution as drafted by staff, keeping the salary requirement framed as an average standard tied to the retention period.
City Attorney Joshua Koehler emphasized that the vote was not the final step and that additional council action would be required before any incentive agreement is granted or implemented.
“This action tonight is not granting an agreement,” Koehler said. “The council will approve it tonight, and then at a future point, they will make an announcement, and it will come back to the council.”
What happens next is procedural and public-facing. If the company selects Boca Raton—or if negotiations reach a point where the city can formally identify the firm—officials said the proposal would return to the council for further action, including the public announcement of the company and the details of any final incentive package. Residents who want to track the process should watch for a future agenda item tied to Project Vernon, along with any documents that identify the company, outline job timelines, and spell out enforcement mechanisms for salary and job-creation benchmarks.
Source: Boca Raton City Council discussion and resolution language for “Project Vernon,” as described during this week’s meeting.
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