MI SB0138

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

Requires the center to coordinate with procurement technical assistance centers to maximize defense and homeland security business opportunities for small businesses (fewer than 400 employees) in Michigan.

Prioritizes bringing defense and homeland security contract opportunities to municipalities affected by manufacturing layoffs and sets performance objectives for increasing defense contracts awarded to Michigan businesses.

Authorizes hiring of an executive director and support person, with additional staff allowed after board approval of a business plan; prohibits using state funds to construct or renovate buildings for the center's use.

Requires entities receiving grants or loans from the Michigan Defense Center to report annually on fund usage and defense or homeland security contracts received.