|February 9, 2012|
After spending $25 million of taxpayers' money on a biotech firm's promising stem cell project, the state of California could do nothing but watch as the company canceled the project and withdrew from stem cell research entirely. James Fossett, a senior fellow at the Rockefeller Institute, says there is a cautionary tale in this story for the many states using taxpayer dollars to stimulate jobs in a wide range of technologies.
Fossett outlines what happened in California and describes the lessons he sees for states in a commentary now on the Institute's Web site.
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About the Rockefeller Institute of Government
The Nelson A. Rockefeller Institute of Government, at the University at Albany, is the public policy research arm of the State University of New York. The Institute conducts fiscal and programmatic research on American state and local governments. Visit our Web site at www.rockinst.org .