Economic development: Michigan strategic fund; procurement technical assistance center (PTAC); update to APEX Accelerator. Amends sec. 2 of 2006 PA 317 (MCL 125.1972).

This bill creates a new entity called the Michigan Defense Center within the existing Michigan Strategic Fund to help local businesses secure government contracts related to homeland security and defense. The center is authorized to coordinate with existing APEX Accelerator programs, prioritize opportunities for municipalities that have suffered manufacturing job losses, and set goals to increase the number of defense contracts awarded to in-state businesses. To operate, the center will hire staff and may provide grants or loans, but it is prohibited from using state funds to build or renovate its own office space. Recipients of funding from the center must report annually on how the money was used and how many defense contracts they secured.