|Send to printer »|
Insight & Intelligence : Oct 5, 2009
While Grateful for Recovery Act Funds, Experts Stress the Importance of Continued Robust Funding
Academia is now beginning to leverage the money, but tool companies are still waiting to feel the impact.!--h2>
President Barack Obama announced last week that the NIH awarded some $5 billion in grants for fiscal year (FY) 2009, nearly half the institute’s $10.4 billion in stimulus funding allocated for FY ’09 and ’10. This represents the largest funding increase since the institute’s budget doubled between 1998 and 2003.
The Trickle-Down Effect
The funding is expected to trickle through the system as labs hire postdoctoral fellows and purchase reagents, labware, instruments, and other components critical to their research. “Every dollar invested through NIH stimulates a second dollar of economic stimulus in the local area,” remarked David Bernstein, Ph.D., senior policy analyst, AACR. “In the long term that investment is magnified greatly.”
Stimulus Funding Broken Down
Of the $10.4 billion provided to the NIH, $8.2 billion were directed to the Scientific Research program. Among NIH institutes, NCI and NIAID received the lion’s share of the funds, at slightly over $1.26 billion and $1.11 billion each. California received the largest number of grants at 1,708, followed by Michigan with 1,226, and New York with 1,136. The funds have gone primarily to academic research institutions but some biotech companies also are recipients.
Gail Dutton is a freelance writer for GEN. Email: firstname.lastname@example.org.
© 2013 Genetic Engineering & Biotechnology News, All Rights Reserved