Promotes regional industry cluster growth.

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