Michigan Stem Cell Economics Study
The Costs to Michigan of Restrictions on Embryonic Stem Cell Research
Allen C. Goodman, Professor of Economics at Wayne State University, has written an analysis of what Michigan’s restrictions on embryonic stem cell research cost the State and its citizens. He reports that over 770,000 Michigan residents have serious diseases and injuries treatment of which can potentially be improved as a result of expanding embryonic stem cell research. Treatment costs for these conditions exceed $7.9 billion a year. Potential benefits from stem cell enhanced treatments that reduce health care costs by as little as 1 percent would reduce treatment costs by nearly $80 million each year.
A small one percent increase in biotech employment due to such research would lead to 1,151 new jobs in Michigan and an increased annual payroll of $51 million.
Stem cell research can lead to increased productivity for the workforce due to improved health. A two percent reduction in absenteeism amounts to an annual gain to Michigan employers and employees of $19.2 million.
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