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Stem cell institute delivers economic boost to California

In 2004, California voters said "yes" to a proposition that provided $3 billion in stem cell research funding and created the California Institute for Regenerative Medicine. Today, CIRM released a report (.pdf) showing the economic impact of the voters' decision: According to the analysis, its first $1.1 billion in grant money is expected to create 25,000 jobs and $200 million in new tax revenue through 2014.

In a release, Robert Klein, chair of CIRM's governing board, said the report demonstrates that "we've delivered on [our] economic promise" to voters. And a future report, the agency said, will show the economic impact of savings created by improved therapies generated from stem cell research.

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