http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/03/13/BAGQ0BOQH41.DTLBAY AREA
Cities compete to host new stem cell institute
Bay Area cities are feverishly honing complex bids -- due in just a few days -- that they hope will land the headquarters of the state's new stem cell institute, a venture expected to provide both cachet and an economic boon.
The headquarters for the California Institute for Regenerative Medicine is expected to have only 50 or so administrative employees, by itself not a big number. But it will host conferences, bringing in specialists from all over the world, and is poised to be a big draw for biotech companies eager to get close to the action -- in this case, the flow of money.
And that is what has generated an intense rivalry over where it will be located.
"California probably will be the world's headquarters for stem cells,'' said Ed Penhoet, vice chairman of the institute's Independent Citizens Oversight Committee, which will select the site. "That's why we're seeing such an aggressive competition.''
The institute will be doling out up to $300 million a year in state grants and loans to California universities and institutions for stem cell research. The project was approved by voters last year with passage of Proposition 71, providing $3 billion for the landmark endeavor over the next decade.
The bids to host the headquarters are due Wednes