HB 2174 Summary

• Establishes the high-growth grant program within the Department of Business, Economic Development, and Tourism to assist qualified businesses with business development activities.

• Provides grants up to 30% of private investment for purposes including expanding business operations, improving productivity, or investing in food safety/quality control programs.

• Grants may finance equipment purchases, management and workforce training, infrastructure improvements, and consulting or feasibility studies, with a maximum of $500,000 per qualified business per calendar year.

• Creates the high-growth grant program special fund to receive legislative appropriations and support grant distributions and program administration.

• Defines "qualified business" as entities in operation for at least two full years that have demonstrated ability to export products out of Hawaii; takes effect July 1, 2050.