California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

California's taxpayer-funded stem-cell agency, the California Institute for Regenerative
Medicine awarded grants yesterday totaling nearly $271 million dollars to build stem-cell
laboratories statewide.

Investment in research infrastructure to extend California’s state-of-the-art research capacity
 is a critical part of the agency’s scientific strategic plan to sustain and build California’s
global leadership in stem cell research and to accelerate the field as a whole. All the institutions
 receiving grants have agreed to expedited construction schedules that will deliver nearly
800,000 square feet of facilities with researchers in the labs within two years. The money -
coupled with additional money from the recipients and their donors - will generate more than
1.1 billion dollars to build the facilities solidifying the state as the world's leading research center
 into next-generation medicine.  The following identifies the institutes that received the grants and
 the corresponding awards

Stanford University $43,578,000
San Diego Consortium for Regenerative Medicine $43,000,000
University of California, San Francisco $34,862,400
University of California, Irvine $27,158,000
University of Southern California $26,972,500
University of California, Davis $20,082,400
University of California, Los Angeles $19,854,900
Buck Institute for Age Research $20,500,000
University of California, Berkeley $20,183,500
University of California, Santa Cruz $7,191,950
University of California, Merced $4,359,480
University of California, Santa Barbara $3,205,800
ALL REQUESTS $270,946,930

I am Tim Johnson and this has been the California Business Minute.