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Stem cell agency grants generate $286 million in taxes for California and 38,000 jobs

The study looked at the $1.5 billion in grant awards committed by July 2012, and the one-time economic impact they will have through 2014. These awards represent half of the $3 billion CIRM was allotted through the passage of Proposition 71 in 2004. The current assessment also accounts for the impact of $1.26 billion in added funds that recipient institutions attracted in matching funds for construction and faculty recruitment as well as funds for related research projects—ones that relied on prior CIRM funding to garner awards from other funders.

 

“CIRM’s commitment to the voters of California is twofold: to accelerate the development of new therapies for a range of serious conditions and to give a boost to the state’s economy,” said Jonathan Thomas, Ph.D., J.D., chair of CIRM’s governing board. “This report shows we have delivered for the economy. For patients, we have a significant portfolio of projects that have fostered clinical trials already or expect clinical trials to begin within a year or two.

“Those projects show the great potential for delivering on our commitment to therapies as well the economy.”

Learn more:
http://www.cirm.ca.gov/PressRelease_2013-01-31
http://www.cirm.ca.gov/files/PDFs/Publications/Economic_Impact_March_2011_0.pdf
http://www.cirm.ca.gov/for-researchers/researchfunding