After a battle with San Diego and Sacramento, San Francisco has been picked to be the headquarters for California’s stem cell institute.
The institute will give out $3 billion in research grants over the next 10 years.
According to SignOnSanDiego.com,
San Francisco received 16 votes and San Diego 11 from the committee overseeing the stem cell initiative. Sacramento was eliminated in the first round after getting only three votes, which then went to San Francisco in the second, deciding ballot.
Although the institute will employ only 50 people, it will be the administrative hub of the initiative being watched around the world, bringing prestige and marketing heft to its host city.
Sacramento and San Diego were tied in votes behind San Francisco disappointing both cities.
“We’re all disappointed, but the process today was as fair as it could be,” said Julie Meier Wright, president of the San Diego Regional Economic Development Corp. “What is good about this, in the end, is that we demonstrated the kinds of things we can do as a community and how we can pull together.”
Sacramento’s Mayor tried to persuade the stem cell board that her city offered lower living costs and well a closer location to the corridors of power, but obviously she wasn’t persuasive enough.
“Sacramento is where the important decisions are made,” said Sacramento Mayor Heather Fargo.
San Francisco’s Mayor, Gavin Newsom believes that a big selling point for San Francisco was its 46,000 square feet of free office space at San Francisco General Hospital as well as $900,000 offer of free and discounted hotel rooms.
Chris is a staff writer for Murdok. Visit Murdok for the latest ebusiness news.
