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Stem Cell Research Initiative Could Result in Substantial Economic Benefits, Rutgers Report Indicates

Examining the components that would most likely be attributed directly to Acting Gov. Richard Codey's proposed $380 million Stem Cell Research Initiative, a Rutgers University study finds that, potentially, the state stands to benefit from an estimated $1.4 billion in new economic activity, approximately 20,000 new jobs, and $71.9 million in new state revenue over the next 20 years.

The authors of the study identify six areas of economic benefits to the state, including the economic impact of public expenditures; savings in health care costs; work time and productivity savings; retention and expansion of the biotechnology industry; and royalty payments to the state. The analysis is dependent upon several variables and the largest uncertainty is whether the current promise of stem cell research will actually yield effective therapies, the authors note.

Rhode Island Action Plan Calls for Improvements in Science and Math Education

To improve the way students learn and teachers teach in the areas of science and mathematics, Rhode Island Gov. Donald Carcieri's Blue Ribbon Panel on Mathematics and Science Education recommends 12 specific strategies in four key areas including governance and culture; teacher recruitment; teacher quality; and learning opportunities for students.

Gov. Carcieri launched the "Making the Grade" initiative in January with a panel composed of education and business leaders from around the state. The panel heard suggestions from students, teachers, parents, administrators, and business and community leaders.

Pennsylvania to Hold Summit to Create Commonwealth's Future

The Pennsylvania Department of Community and Economic Development, in concert with the Pennsylvania State University, are presenting the inaugural Creating Pennsylvania’s Future: A Higher Education, Economic and Community Development Summit, aimed at energizing institutions of higher education, business leaders, economic development organizations, investors, workforce development agencies, government officials, and community leaders to work collaboratively to create a future for Pennsylvania that leverages the Commonwealth’s college and university assets.

The summit will take place at the Penn Stater Conference Center in University Park on Dec. 5 and 6, 2005.

Useful Stats:Gross State Product, 2003-2004

Service industries once again outpaced growth in the goods-producing industries across the country in 2004, according to gross state product (GSP) figures released Oct. 26 by the U.S. Bureau of Economic Analysis (BEA). Private services-producing industries grew 5.1 percent above 2003 figures, while private goods-producing industries grew at a 3.1 percent rate.

Of nine geographic subregions for the country, only the Great Lakes area failed to exceed an average annual growth rate of 2 percent for the 1997-2004 period. While the percentage change for the Great Lakes was higher for 2003-2004, government's declining contribution to the percentage change in real GSP during the period actually pulled the 2.4 percent figure down by a quarter point.

People

Jim Aanstoos is the new economic development director for the city of San Marcos, Texas.

John Adams, director of the Laredo Development Foundation, will become the new director of Enterprise Florida.

Steve Biggers has been promoted to Deputy Director for the Oklahoma Center for the Advancement of Science & Technology.

Warren Erdman, formerly vice president of corporate affairs at Kansas City Southern, is the newly selected chairman of the board of the Economic Development Corp. of Kansas City.

People

Jim Aanstoos is the new economic development director for the city of San Marcos, Texas.

People

John Adams, director of the Laredo Development Foundation, will become the new director of Enterprise Florida.

People

Steve Biggers has been promoted to Deputy Director for the Oklahoma Center for the Advancement of Science & Technology.

People

Warren Erdman, formerly vice president of corporate affairs at Kansas City Southern, is the newly selected chairman of the board of the Economic Development Corp. of Kansas City.

People

Michael Finney, CEO of Greater Rochester Enterprise, is leaving to become president and CEO of Ann Arbor SPARK.

People

Dennis "Mickey" Flynn is the new president of Pennsylvania BIO.

People

The West Virginia Venture Connection has named John Hale as executive director.