Sacramento’s economy rebounds, but many workers struggle
StemExpress was mentioned in The Sacramento Bee’s article “Sacramento’s economy rebounds, but many workers struggle” dated 18 April 2015.
In significant ways, the Sacramento economy hasn’t really changed from the pre-recession era. Government remains a mainstay. Health care, which passed state government in 2003 as the region’s leading employer, continues to prosper, with the Affordable Care Act creating additional demand for nurses, clinical lab employees, X-ray technicians and others.
Among the success stories is StemExpress, a 5-year-old Placerville company that provides human cells, bone marrow and other products to medical schools and drug companies. It ranked 363rd on Inc. magazine’s list of the fastest-growing private companies in America last year. Its 23-person staff is expected to surpass 40 by year’s end, Chief Executive Cate Dyer said.
StemExpress is considering expanding into an El Dorado Hills laboratory recently vacated by a pharmaceutical company that consolidated operations in San Diego. The drug company’s move eliminated 50 jobs; StemExpress likely will hire a quarter of the laid-off workers.
“We’ve been growing exponentially here for a while,” Dyer said.