Local and global returns from research in stem cells: the case of the California Institute for Regenerative Medicine.

As of July 2010, the California Institute for Regenerative Medicine (CA, USA) had awarded US$1.1 billion to over 50 institutions which obtained $884.3 million in matching funds. Those grants have one-time and ongoing economic impacts: the former during the disbursement of the funds locally, while the latter result from structural changes and are global. For the period 2006-2014, one-time impacts in California (USA) are 24,000 jobs/year and $201 million in tax revenues for California ($362 million for the federal government). A grantee developed an inhibitor to treat polycythemia vera and primary myelofibrosis. The patients in remission who will return to work will cause an average increase of $94.4 million in California's annual personal income ($560.9 million for the USA) and tax revenues of $46.7 million over 10 years. The annual decrease in direct healthcare costs in California is $2.1 million. Grantees concentrate in two clusters--San Francisco and San Diego--strengthening California's leadership in stem cell research.