The United States will invest $5 billion in scientific research, medical supplies and upgraded laboratory capacity as part the Obama Administration's $787 billion economic stimulus package, Reuters reports.

The funds, which will also help create tens of thousands of new jobs, will pay for “cutting-edge medical research in every state across America,” the White House said. The plan will include targeted genetic research on cancer and potential treatments. President Obama, who announced the plan on September 30, said that the money will also fund autism research.

“This ambitious effort promises to open new windows into the biology of all cancers, transform approaches to cancer research and raise the curtain on a more personalized era of cancer care,” said Francis Collins, MD, director of the National Institutes of Health.

In addition, $175 million will go to The Cancer Genome Atlas project, which plans to collect 20,000 tissue samples of 20 different types of cancers, sequence the genetic material and then make the data available to researchers for free.