**FILE**In this Oct. 22, 2008 file photo, research associate Crystal Pacutin pulls a frozen vial of human embryonic stem cells at the University of Michigan Center for Human Embryonic Stem Cell Research Laboratory in Ann Arbor, Mich. For all the headlines about the medical promise of embryonic stem cells, there is a sobering reality. The science to prove that promise will take years, and the people who ultimately might benefit most are those who aren't yet sick. (AP Photo/Paul Sancya, File)
WASHINGTON (AP) - The National Institutes of Health has awarded $5 billion in grants to support research into cures for cancer and other diseases, and to create jobs.
President Barack Obama was making the announcement Wednesday at the NIH campus in Bethesda, Md., with Health and Human Services Secretary Kathleen Sebelius.
The money comes from the $787 billion economic stimulus program that is designed to help create jobs and turn around the economy. The program included $10 billion for the NIH.
Jared Bernstein, who is Vice President Joe Biden's chief economist, says the $5 billion will support some 12,000 existing projects and create thousands of jobs over the next two years for researchers and educators, as well as medical equipment makers and suppliers.
(Copyright 2009 by The Associated Press. All Rights Reserved.)