New York, NY (WIBX) - New York State is emerging as a leader in stem cell research. That according to a newly released analytical report by the Associated Medical Schools of New York. The organization says the status not only puts the state at the frontlines of stem cell research--it also bolsters the state's economy.

According to the report more than 300 jobs have been created in just over two years as a result of the nearly $223 million in funding, the state awarded to medical research organizations exploring innovative cures and treatment to life threathening and chronic illnesses.

AMSNY President and CEO, Jo Wiederhorn said in a released statement, "New York's stem cell research initiative is a perfect example of a program that is accomplishing just what Governor Cuomo outlined in his Jan. 5 address -- how New York State must leverage the power and expertise of its research institutions and employ them to help rebuild the state's economy."

The report also sites that in upstate alone, nearly $36 million in funding has already been awarded to research  institutions undertaking stem cell research. SUNY Upstate Medical University was awarded $6.2 million dollars in grant money to continue its stem cell research program and to also support its studies into how stem cells may be used to fight leukemia. The University of Rochester Medical Center (URMC) is another institution that received a $3.3 million grant for its stem cell work. According to a URMC report, the funding is going towards the construction of a new facility that will enable extensive stem cell research and testing of new therapies.

The AMSNY report states that in addition to leading the pack in stem cell research projects, the state's investment serves as an economic booster through the creation of hundreds of jobs, as well as, attracting world-renowned researchers and scientists to the state. Officials conclude that the state's leadership status leads to advancement in medicine and ultimately to finding cures to many illnesses.