A new study released by the Maryland Stem Cell Research Commission shows how the the organization has added over 500 Maryland Jobs. For more information about Maryland jobs, click here.

The research commission will use the results to bolster its appeal for level funding in next year’s budget.

According to the Gazette.net, the study, conducted by Sage Policy Group of Baltimore, shows that the program, which grants millions in awards each year, mostly to university researchers, supports 514 jobs, both direct and indirect, in the state, with an average salary of $64,000. The program facilitates $71.3 million in business sales in the state, and the stem cell industry generates $2.7 million in state and local taxes annually.

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Gov. Edward G. Rendell recently announced his plan to invest in three venture capital firms that will help create biotech jobs in PA.

The Commonwealth Financing Authority recently approved $5 million in new investments to the firms through the New PA Venture Capital Investment program, which provides loans to venture capital firms to invest in growth-stage companies. The three firms are expected to leverage an additional $15 million in private investments that will be used to support more than 20 early stage companies in Pennsylvania.

The New PA Venture Capital Investment program was authorized to provide $60 million in loans to venture capital managers and leverage another $180 million in private equity for a total investment of $240 million in the local economy. According to the National Venture Capital Association, Pennsylvania is currently third in the nation in jobs created by venture-backed companies.

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