Promotes regional industry cluster and sector growth.

Revises the competitive grant program to fund activities designed to further regional cluster and sector growth.

Devotes five percent of funds received for the grant program to: (1) Identifying and sharing with grant recipients the public and private resources available that could be more intensively devoted to assist industry clusters; and

(2) Identifying mechanisms by which public resources can be coordinated and more efficiently delivered to support the growth and competitiveness of industry clusters.