TRENTON, N.J. (AP) - Deciding that the time is right for New Jersey to invest financially in stem cell research, the state Legislature on Thursday agreed to borrow $270 million to build labs and pay for related programs.
Gov. Jon S. Corzine said he looked forward to signing the bill, which allows the state to tap into its unused bonding capacity. He called the investment a "tremendous opportunity" for the state and its biomedical industry.
The legislation provides $150 million for a stem cell research institute at Rutgers University in New Brunswick, $50 million for a biomedical research center at Rutgers-Camden, $50 million for an adult stem cell research facility at the New Jersey Institute of Technology in Newark, $10 million for the Garden State Cancer Center in Belleville, and $10 million for the Elie Katz Umbilical Cord Blood Program in Allendale.
Stem cells are considered key to solving many incurable diseases because they have the potential to develop into different cell types. Embryonic stem cells are derived from eggs fertilized in vitro and donated for research. Adult stem cells are found in mature tissues and have been used in bone marrow transplants for decades.
Opponents liken some of the research to abortion because it requires the destruction of human embryos.
Senate President Richard Codey originally proposed the investment as governor in 2005. New Jersey's stem cell efforts and biotech industry are threatened by competition from such places as Massachusetts, California and Maryland, he said, and abroad from countries like China, Japan and England.
The projects will not affect the state's operating budget but will come from existing unused bond capacity. The bonds will be issued by the state Economic Development Authority, which would oversee construction.
New Jersey's first foray into stem cell research came a year ago, when the state awarded $5 million in grants to 167 researchers.
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