New Gold Rush as California Invests $800 Million in Stem Cell Lab Construction

SUGAR LAND--August 20, 2008--Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--Just over 160 years ago, the discovery of gold in California set off the California Gold Rush. Hundreds of thousands of people flocked to the state, arriving by stagecoach, horseback and sailing ships. Known as the "forty-niners," many of those early pioneers faced down seemingly insurmountable odds to claim their fortunes. Now fast forward to the present day, and once again the hardy denizens of the state have proven that nothing can stand in their way. Although the Bush administration cut federal funding for the majority of stem cell research in 2001, the Golden State's resounding answer is nearly $800 million earmarked for investment for new stem cell lab construction projects. The hope is that, along with scores of medical breakthroughs, the sheer size of such a massive gathering of targeted science in one state will attract and spur new commercial business development.