Bloomberg Law
Oct. 9, 2019, 7:01 AM UTCUpdated: Oct. 10, 2019, 2:09 AM UTC

California Stem Cell Agency Put $15 Billion into U.S. Economy (1)

Joyce E. Cutler
Joyce E. Cutler
Staff Correspondent

California’s stem cell agency pumped $15.4 billion into the U.S. economy over 14 years, University of Southern California economists said in a study.

The report comes out 15 years after California voters approved $3 billion in bond sales to fund research at a time the federal government was pulling back on its support for embryonic stem cell research. It also arrives as backers are proposing a new $5 billion bond initiative to continue funding the research as the agency’s ability to raise money through bonds ceases under Proposition 71, which originally created the California Institute for Regenerative Medicine.

CIRM-funded activities ...

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