HI HB521

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 20% of private investment for: 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.

Limits individual businesses to maximum $400,000 in grants per calendar year and requires businesses to have operated for at least 2 years and demonstrated export capability.

Creates the high-growth grant program special fund to receive legislative appropriations, with up to $100,000 annually available for program administration; effective July 1, 2038.