California Cities Race for Stem Cell Center

Several California cities plan to offer inexpensive or free office space in hopes of luring the state's prestigious stem cell headquarters. San Francisco, Sacramento, Los Angeles, San Diego and other cities are jockeying for the headquarters.

What's the big deal? First of all, the California Institute for Regenerative Medicine will dole out $3 billion in research grants and open a 15,000-square-foot office with a maximum of 50 employees. Then, here is always the image benefit and anticipated local economic spin-off effects. More here.