The $3 billion California stem cell agency today served up a warmed-over version of a study that would have the
public believe that the research program has had a major economic
impact on the state.
August by a firm that was hired under an RFP in 2010 that said it must execute "a vibrant and aggressive strategy to support the goals and initiatives of CIRM.”
original study but contends the report is “independent” of CIRM.
today, the latest version of the study by Jose Alberro of the
Berkeley Research Group claims creation of 38,000 “job years” and
$286 million in “new tax revenue” from the award of $1.5 billion. Those awards actually cost something in the neighborhood of $3 billion, given that state taxpayers must pay interest the borrowed funds that finance the agency.
blue-ribbon report on the stem cell agency carried remarkably different
information than the economic figures reported today. The institute's study was also financed by CIRM but at a cost of
$700,000. The report said,
“In the short term, CIRM’s
expenditures are supporting approximately 3,400 jobs and their
innovative efforts have also attracted substantial additional private
and institutional resources to this research arena in California
CIRM’s long-term impact on such critical aspects of the California
economy as state tax revenues and health care costs beyond the
shorter-term and temporary impact of its direct expenditures cannot
be reliably estimated at this point in CIRM’s history."
“No doubt exists that the stem cell
spending has had a beneficial economic impact. But whether it has had
a 'significant' impact on the California economy is in the eye of the
beholder. The state's economy runs to something like $1.7 trillion a
year. If California were a nation, it would rank among one of the
larger economies in the world. The workforce totals around 18
million, making 25,000 jobs statistically less than a hiccup. Keep in
mind as well that CIRM, until 2009, paid the interest on its
borrowing with more borrowed funds, all of which adds to the total
cost of the borrowing, which is about $3 billion on top of the $3
billion CIRM is handing out.”
the stem cell agency would seem to be inviting assessment of its
efforts as an industrial development enterprise, which involve
criteria significantly different than that of a research enterprise.
A few years ago, we asked the agency's then Chairman Robert Klein
whether he wanted to have CIRM assessed as industrial development
effort. His quick response was a very emphatic no. Klein nonetheless
frequently touted the figures produced under the contract with the
agency.
likely to be cited as the agency begins a road trip around the state
to meet with newspaper editorial boards to trumpet CIRM's reponse to
the Institute of Medicine study.
report. We have asked CIRM for a copy of the contract with the group
that prepared it. We will carry it when we receive it.
- 001 International Stem Cell Corporation Provides Strategic Update on its Skin Care Program [Last Updated On: April 10th, 2010] [Originally Added On: April 10th, 2010]
- 002 International Stem Cell Corporation Provides Strategic Update on its Skin Care Program [Last Updated On: April 11th, 2010] [Originally Added On: April 11th, 2010]
- 003 CSC news roundup 2010-04-11 [Last Updated On: April 12th, 2010] [Originally Added On: April 12th, 2010]
- 004 CSC news roundup 2010-04-11 [Last Updated On: April 12th, 2010] [Originally Added On: April 12th, 2010]
- 005 International Stem Cell Corporation Engages Leading Immunogeneticists to Advance its Industry-first, Immune-matched Stem Cells [Last Updated On: April 14th, 2010] [Originally Added On: April 14th, 2010]
- 006 International Stem Cell Corporation Engages Leading Immunogeneticists to Advance its Industry-first, Immune-matched Stem Cells [Last Updated On: April 14th, 2010] [Originally Added On: April 14th, 2010]
- 007 MicroRNA therapy could be a powerful tool to correct the CSC dysregulation? [Last Updated On: April 17th, 2010] [Originally Added On: April 17th, 2010]
- 008 MicroRNA therapy could be a powerful tool to correct the CSC dysregulation? [Last Updated On: April 17th, 2010] [Originally Added On: April 17th, 2010]
- 009 CSC news links 2010-04-18 [Last Updated On: April 19th, 2010] [Originally Added On: April 19th, 2010]
- 010 CSC news links 2010-04-18 [Last Updated On: April 19th, 2010] [Originally Added On: April 19th, 2010]
- 011 Sessions on CSC Therapeutics at AACR10 [Last Updated On: April 27th, 2010] [Originally Added On: April 27th, 2010]
- 012 Sessions on CSC Therapeutics at AACR10 [Last Updated On: April 27th, 2010] [Originally Added On: April 27th, 2010]
- 013 More about presentations at AACR10 [Last Updated On: May 2nd, 2010] [Originally Added On: May 2nd, 2010]
- 014 CSC news links 2010-05-01 [Last Updated On: May 2nd, 2010] [Originally Added On: May 2nd, 2010]
- 015 More about presentations at AACR10 [Last Updated On: May 2nd, 2010] [Originally Added On: May 2nd, 2010]
- 016 CSC news links 2010-05-01 [Last Updated On: May 2nd, 2010] [Originally Added On: May 2nd, 2010]
- 017 International Stem Cell Corporation Signs Financing Agreement [Last Updated On: May 6th, 2010] [Originally Added On: May 6th, 2010]
- 018 International Stem Cell Corporation Signs Financing Agreement [Last Updated On: May 6th, 2010] [Originally Added On: May 6th, 2010]
- 019 CSC news links 2010-05-08 [Last Updated On: May 9th, 2010] [Originally Added On: May 9th, 2010]
- 020 CSC news links 2010-05-08 [Last Updated On: May 9th, 2010] [Originally Added On: May 9th, 2010]
- 021 International Stem Cell and Absorption Systems Confirm Results Showing Stem Cell Derived Corneal Tissue as an Alternative to Animals for Drug Testing [Last Updated On: May 12th, 2010] [Originally Added On: May 12th, 2010]
- 022 International Stem Cell and Absorption Systems Confirm Results Showing Stem Cell Derived Corneal Tissue as an Alternative to Animals for Drug Testing [Last Updated On: May 12th, 2010] [Originally Added On: May 12th, 2010]
- 023 Generic drug a potential treatment for glioblastoma? [Last Updated On: May 14th, 2010] [Originally Added On: May 14th, 2010]
- 024 Generic drug a potential treatment for glioblastoma? [Last Updated On: May 14th, 2010] [Originally Added On: May 14th, 2010]
- 025 US Patent: Isolation and use of solid tumor stem cells [Last Updated On: May 18th, 2010] [Originally Added On: May 18th, 2010]
- 026 US Patent: Isolation and use of solid tumor stem cells [Last Updated On: May 18th, 2010] [Originally Added On: May 18th, 2010]
- 027 International Stem Cell Corporation and The Automation Partnership Enter into Strategic Alliance to Automate Cornea Tissue Production [Last Updated On: May 19th, 2010] [Originally Added On: May 19th, 2010]
- 028 International Stem Cell Corporation and The Automation Partnership Enter into Strategic Alliance to Automate Cornea Tissue Production [Last Updated On: May 19th, 2010] [Originally Added On: May 19th, 2010]
- 029 An evolving concept of CSC in tumor biology [Last Updated On: May 21st, 2010] [Originally Added On: May 21st, 2010]
- 030 An evolving concept of CSC in tumor biology [Last Updated On: May 21st, 2010] [Originally Added On: May 21st, 2010]
- 031 International Stem Cell Corporation Moves International Cornea Development Program Forward [Last Updated On: May 26th, 2010] [Originally Added On: May 26th, 2010]
- 032 International Stem Cell Corporation Moves International Cornea Development Program Forward [Last Updated On: May 26th, 2010] [Originally Added On: May 26th, 2010]
- 033 Phase I clinical trial of ICT-107 [Last Updated On: June 3rd, 2010] [Originally Added On: June 3rd, 2010]
- 034 Phase I clinical trial of ICT-107 [Last Updated On: June 3rd, 2010] [Originally Added On: June 3rd, 2010]
- 035 CSCs responsible for metastasis identified [Last Updated On: June 6th, 2010] [Originally Added On: June 6th, 2010]
- 036 CSCs responsible for metastasis identified [Last Updated On: June 6th, 2010] [Originally Added On: June 6th, 2010]
- 037 International Stem Cell Corporation's Parthenogenetic Stem Cell Patent is Approved by the United States Patent and Trademark Office [Last Updated On: June 9th, 2010] [Originally Added On: June 9th, 2010]
- 038 International Stem Cell Corporation's Parthenogenetic Stem Cell Patent is Approved by the United States Patent and Trademark Office [Last Updated On: June 9th, 2010] [Originally Added On: June 9th, 2010]
- 039 International Stem Cell Corporation Announces Company Update Conference Call. ISCO Chairman Kenneth Aldrich to Discuss 'Status of the Company' [Last Updated On: June 10th, 2010] [Originally Added On: June 10th, 2010]
- 040 International Stem Cell Corporation Announces Company Update Conference Call. ISCO Chairman Kenneth Aldrich to Discuss 'Status of the Company' [Last Updated On: June 10th, 2010] [Originally Added On: June 10th, 2010]
- 041 Decitabine may target ovarian CSCs? [Last Updated On: June 14th, 2010] [Originally Added On: June 14th, 2010]
- 042 Decitabine may target ovarian CSCs? [Last Updated On: June 14th, 2010] [Originally Added On: June 14th, 2010]
- 043 New Article from North County Times - BIOTECH: International Stem Cell Clears Debt, Gets Patent [Last Updated On: June 17th, 2010] [Originally Added On: June 17th, 2010]
- 044 New Article from North County Times - BIOTECH: International Stem Cell Clears Debt, Gets Patent [Last Updated On: June 17th, 2010] [Originally Added On: June 17th, 2010]
- 045 Patent application: Levels of Oct1 as a method of identifying CSCs [Last Updated On: June 18th, 2010] [Originally Added On: June 18th, 2010]
- 046 Patent application: Levels of Oct1 as a method of identifying CSCs [Last Updated On: June 18th, 2010] [Originally Added On: June 18th, 2010]
- 047 OncoMed Has 'Wnt' in its Sails [Last Updated On: June 21st, 2010] [Originally Added On: June 21st, 2010]
- 048 OncoMed Has 'Wnt' in its Sails [Last Updated On: June 21st, 2010] [Originally Added On: June 21st, 2010]
- 049 International Stem Cell Corporation Names Charles J. Casamento to Board of Directors [Last Updated On: June 23rd, 2010] [Originally Added On: June 23rd, 2010]
- 050 International Stem Cell Corporation Names Charles J. Casamento to Board of Directors [Last Updated On: June 23rd, 2010] [Originally Added On: June 23rd, 2010]
- 051 International Stem Cell Corporation (ISCO.OB) Announces New Patent Issuance Under License Agreement [Last Updated On: June 25th, 2010] [Originally Added On: June 25th, 2010]
- 052 International Stem Cell Corporation (ISCO.OB) Announces New Patent Issuance Under License Agreement [Last Updated On: June 25th, 2010] [Originally Added On: June 25th, 2010]
- 053 Diabetes treated with Stem Cell Therapy [Last Updated On: June 25th, 2010] [Originally Added On: June 25th, 2010]
- 054 California Health Institute Interviews Jeffrey Janus - CEO of Lifeline Cell Technology [Last Updated On: June 29th, 2010] [Originally Added On: June 29th, 2010]
- 055 California Health Institute Interviews Jeffrey Janus - CEO of Lifeline Cell Technology [Last Updated On: June 29th, 2010] [Originally Added On: June 29th, 2010]
- 056 U.S. appeals court reinstates stem cell suit [Last Updated On: June 29th, 2010] [Originally Added On: June 29th, 2010]
- 057 Burn Victim Eye Sight Restored with Stem Cell Therapy [Last Updated On: June 29th, 2010] [Originally Added On: June 29th, 2010]
- 058 Treating Adult Artritis with Stem Cells Shows Incredible Promise [Last Updated On: June 30th, 2010] [Originally Added On: June 29th, 2010]
- 059 International Stem Cell Corporation - Excerpt from Agora Financial's Breakthrough Technology Alert by Patrick Cox [Last Updated On: July 1st, 2010] [Originally Added On: July 1st, 2010]
- 060 International Stem Cell Corporation - Excerpt from Agora Financial's Breakthrough Technology Alert by Patrick Cox [Last Updated On: July 1st, 2010] [Originally Added On: July 1st, 2010]
- 061 Melanoma-initiating cells identified [Last Updated On: July 2nd, 2010] [Originally Added On: July 2nd, 2010]
- 062 Melanoma-initiating cells identified [Last Updated On: July 2nd, 2010] [Originally Added On: July 2nd, 2010]
- 063 International Stem Cell Corporation and Sankara Nethralaya Launch Collaboration to Develop Stem Cell-Based Treatment for Corneal Vision Impairment [Last Updated On: July 8th, 2010] [Originally Added On: July 8th, 2010]
- 064 International Stem Cell Corporation and Sankara Nethralaya Launch Collaboration to Develop Stem Cell-Based Treatment for Corneal Vision Impairment [Last Updated On: July 8th, 2010] [Originally Added On: July 8th, 2010]
- 065 Two recent OA articles [Last Updated On: July 12th, 2010] [Originally Added On: July 12th, 2010]
- 066 Two recent OA articles [Last Updated On: July 12th, 2010] [Originally Added On: July 12th, 2010]
- 067 Innovative Researcher Vlog [Last Updated On: July 16th, 2010] [Originally Added On: July 16th, 2010]
- 068 Innovative Researcher Vlog [Last Updated On: July 16th, 2010] [Originally Added On: July 16th, 2010]
- 069 More about salinomycin [Last Updated On: July 19th, 2010] [Originally Added On: July 19th, 2010]
- 070 More about salinomycin [Last Updated On: July 19th, 2010] [Originally Added On: July 19th, 2010]
- 071 International Stem Cell Corporation Plans $10 Million Financing Through European Subsidiary [Last Updated On: July 23rd, 2010] [Originally Added On: July 23rd, 2010]
- 072 International Stem Cell Corporation Plans $10 Million Financing Through European Subsidiary [Last Updated On: July 23rd, 2010] [Originally Added On: July 23rd, 2010]
- 073 Irradiating brain's stem cell niche [Last Updated On: July 26th, 2010] [Originally Added On: July 26th, 2010]
- 074 Irradiating brain's stem cell niche [Last Updated On: July 26th, 2010] [Originally Added On: July 26th, 2010]
- 075 Prostate CSCs sensitive to gamma-tocotrienol? [Last Updated On: July 27th, 2010] [Originally Added On: July 27th, 2010]
- 076 Prostate CSCs sensitive to gamma-tocotrienol? [Last Updated On: July 27th, 2010] [Originally Added On: July 27th, 2010]
- 077 Researchers Study CSCs as Therapeutic Targets for Mesothelioma [Last Updated On: July 28th, 2010] [Originally Added On: July 28th, 2010]
- 078 Researchers Study CSCs as Therapeutic Targets for Mesothelioma [Last Updated On: July 28th, 2010] [Originally Added On: July 28th, 2010]
- 079 International Stem Cell Corporation and Sristi Biosciences Enter Distribution Agreement for Lifeline Cell Technology's Brand of Human Cell Culture... [Last Updated On: July 29th, 2010] [Originally Added On: July 29th, 2010]
- 080 Disagreement about melanoma CSCs [Last Updated On: July 29th, 2010] [Originally Added On: July 29th, 2010]