California stem cell research funding agency created more than 82,000 jobs

The California Institute of Regenerative Medicine has created nearly 57,000 jobs and some $11 billion in sales revenue for the state, according to a new independent analysis of the institution. CIRM was created in 2004 to fund stem cell research, after the federal government stopped funding experiments involving human embryos. Since then, the agency has had a big impact on the economy, both within and outside California: The institution has led to more than 25,000 jobs outside California as well as generated almost $5 billion in sales revenue, including in salaries and production costs for various therapies. These benefits came not only from grants issued by CIRM directly, but also from CIRM funds matched by outside agencies; partnership deals; and funding to California’s system of stem cell clinics, known as the Alpha Stem Cell Clinics network.