Amends the Public Works and Economic Development Act of 1965 to authorize the Secretary of Commerce to make grants in support of cluster-based economic development efforts in regions with low per capita income, high unemployment, or economic adjustment problems.
Limits the maximum assistance for any one region to $1 million.
Sets Federal cost sharing for projects carried out using funds authorized by this Act at 50 percent. Authorizes in-kind contributions for the non-Federal share of project costs.
Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology, for a period to be subsequently determined by the Chairman.
Introduced in Senate
Read twice and referred to the Committee on Environment and Public Works.
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