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.

The Maryland Technology Development Corp., which administers the stem cell fund program, commissioned the study.

Gov. Martin O’Malley (D) is seeking $12.4 million for the stem cell fund in fiscal 2011, the same amount appropriated for the current fiscal year. That’s a significant decrease from just two years ago, when some $22 million was appropriated for research grants. Last year, the program received $18 million. In June 2008, before the recession took a serious bite out of the state’s finances, O’Malley proposed spending $20 million a year under his Bio 2020 Initiative.

Lawmakers are currently considering stem cell research funding in the fiscal 2011 budget. The Senate Budget and Taxation Committee’s Health, Education and Human Resource Subcommittee, chaired by Edward J. Kasemeyer (D-Dist. 12) of Columbia, had scheduled a hearing for Monday afternoon.

Among those scheduled to testify were John M. Wasilisin, acting president and executive director of Tedco, and Dan Gincel, director of the stem cell research fund, both of whom also testified before a House subcommittee on Thursday to argue against any cuts. Neither Gincel nor Kasemeyer immediately returned phone calls seeking comment on Monday.

“The impressive results of this study support the work of the Maryland Stem Cell Research Commission and the goals of the Maryland Stem Cell Research Fund,” Wasilisin said in the statement. “The fund has reached great milestones since its inception in 2006, including our program’s stellar national reputation which attracts the best and brightest in the field to the State of Maryland. With the support of the Governor and the legislature, our greatest achievements are still to come and we look forward to the work that lies ahead.”

This entry was posted on Tuesday, February 23rd, 2010 at 1:49 am and is filed under Healthcare, Biotech. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.