Stem cell firm opening raises questions
By Associated Press,
Associated Press
| 05. 01. 2008
A California-based stem cell research company will get $589,000 in state grants to open a New Jersey facility and create 12 new jobs, a plan questioned by those worried about the governor's proposed budget cuts.
"It does seem questionable to be writing checks to companies that are going to hire 12 people when you're cutting higher education and can't pay for transportation," said Jon Shure, president of the liberal-leaning New Jersey Policy Perspective that has criticized taxpayer-funded business incentives and tax breaks.
Democratic Gov. Jon S. Corzine, who joined officials from StemCyte and Rutgers University on Thursday to announce StemCyte's plan to open a facility in Ewing, defended the incentives.
"The addition of StemCyte to our portfolio of companies represents an important economic investment that brings with it the promise of discovery and cures for some of our most devastating diseases and injuries," Corzine said as he toured a Rutgers stem cell lab. "I am proud to welcome StemCyte to the Garden State."
The Ewing facility will house executive management and therapeutics team members, and serve as an East Coast...
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