Speaking at the Central Mass Business Expo, held at the DCU Center yesterday, UMass Medical School Chancellor Michael F. Collins explained how looming cuts to federal funding for basic science research will result in fewer jobs, more costly health care and fewer life-saving discoveries.
“Those across-the-board cuts will slash programs that are the very engines of our innovation economy and the critical starting points for new cures,” Chancellor Collins said.
The NIH-funding process also helps ensure that basic research provides one of the best returns on investment we can make with our hard-earned tax dollars, he said.
For example, for every $1 the federal government invested in it, the Human Genome Project has generated $141 in economic returns. That single project has created $796 billion in economic output and 3.8 million job years worth of employment, Collins added.
Read the full article: UMass Medical School chancellor calls for federal research support
See excerpts of his speech in this video: