National Innovation and Job Creation Act of 2008 - Establishes in the Executive Office of the President a National Innovation Council, to be responsible for formulating and advocating for the federal government's innovation policy. Requires the Council to collaborate with major statistical agencies, collect data concerning the impact on productivity of the Council's programs, and annually report to Congress on national innovation and productivity. Places the Council under the direction of a National Innovation Council Board.
Transfers to the Council specified research and innovation programs of the National Institute of Standards of Technology, the National Science Foundation, and the Department of Labor.
Establishes within the Council the CLUSTER Information Center to promote the collection, development, and dissemination of data and analysis on industry clusters (geographic concentrations of interconnected businesses and associated institutions in a particular field).
Requires the Council to award grants for: (1) operation of CLUSTER Initiatives (formal efforts to promote cluster growth and competitiveness through collaborative activities); (2) research partnerships between academic institutions and industry research alliances; (3) early-stage research, by academic institutions and joint ventures, into methods of increasing productivity and innovation; (4) state innovation-based economic development partnerships; and (5) diffusion of technological innovations by manufacturing extension partnership centers.