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This is Chris Redgrave for Zions Bank Speaking on Business.
In Utah we get so focused on doing good things that we sometimes forget to stop and reflect. Have you ever considered the impact of the Huntsman family and the Huntsman Cancer Institute on our state economy? By 2016 they will have built an expanded, state-of-the-art research center known as the Primary Children's and Families' Cancer Research Center at Huntsman Cancer Institute to fight and conquer childhood cancer.
The new center will include a 220,000 square foot cancer research facility that will study everything from children's cancers and cancers within families to genetics, risk and prevention. It will also focus on pre-clinical cancer models, advanced therapeutics, survivorship and health disparities and will have an HCI Biotechnology Center.
During construction, the Cancer Research Center will generate around 500 construction jobs. Once it is fully operational, it will result in 770 new jobs, not to mention that in combination with the Huntsman Cancer Center, it will provide a combined total of over 2,000 jobs, $450 million in gross state product, and over $750 million in business activity for Utah. The Children's Center will cost over $100 million to build and through private donations and partnerships, they've already raised $80 million.
Susan Sheehan (she-ann), executive director of the Huntsman Cancer Foundation, says the Huntsman family has been engaged with advancing cancer research for almost 20 years. Their work has made Utah a mecca for cancer research. The primary focus will be on advancing research on children's cancers and cancers passed through genetic mutations in families. They've already discovered certain gene mutations that predict your risk for inherited forms of cancer and plan to continue this research.
A key to successfully treating these cancers is early diagnosis and creating a personalized treatment plan. Family genetic profiles can be very important in determining the likelihood of developing cancer. This is an important area the Primary Children's & Families' Cancer Research Center will be focusing on, to look for patterns and other keys to help in the detection and prevention of cancer.
For Zions Bank, I'm Chris Redgrave, speaking on business.
The Primary Children's & Families' Cancer Research Center www.huntsmancancer.org
