MI HB6526

Creates the Michigan Economic Development Corporation Defense Center within the Michigan Strategic Fund to focus on job creation and retention from homeland security and defense contracts.

Center must coordinate with procurement technical assistance centers to maximize homeland security and defense business opportunities for small businesses (fewer than 400 employees) and small business innovation research programs in Michigan.

Center shall prioritize bringing defense and homeland security business opportunities to municipalities hardest hit by manufacturing layoffs and set a performance objective of increasing defense and homeland security contracts awarded to Michigan businesses by 25%.

Center may hire an executive director and support staff with additional hiring allowed after board approval of a business plan; center shall not use state funds to construct or renovate buildings for its own use.

Entities receiving grants, loans, or funding from the center must report annually on fund usage and the number and amount of defense or homeland security contracts received in the preceding year.