The state stem cell agency, which is expected to run out of taxpayer money by the end of this year, released a report Wednesday highlighting its contributions to the California economy — including an estimated $1.4 billion in added tax revenue and nearly 57,000 jobs created — since it began doling out grants nearly 15 years ago.
The California Institute for Regenerative Medicine issued the economic impact report on the eve of an expected new ballot measure for 2020, which would ask state voters to re-fund the agency. CIRM was created in 2004 when voters approved a $3 billion bond measure to fund stem cell research.
“We’ve funded tremendous, world-class research of which the voters of California should be very proud, and at the same time we’ve generated great economic impact,” said Jonathan Thomas, chairman of the CIRM governing board. “We are very proud of the numbers in this report.”
The report, which cost $202,250 and was paid for by CIRM, was done by researchers at the Price School of Public Policy at the University of Southern California. The last... see more