MN HF2243

Appropriates $500,000 from the general fund in fiscal year 2014 to the commissioner of employment and economic development as a onetime appropriation for a women entrepreneurs business development competitive grant program.

Establishes that "women-owned business" requires at least 51 percent ownership by one or more women and management/daily operations controlled by women.

Defines "high economic impact firm" as a business projected to generate at least $500,000 in annual revenue and create at least ten high-quality jobs (paying at least 150 percent of the federal poverty guideline for a family of four).

Limits eligible "qualified businesses" to women-owned entities in construction, transportation, warehousing, agriculture, mining, finance, insurance, professional/technical/scientific services, technology, or other high economic impact industries.

Permits use of funds for entrepreneurial training, mentoring, technical assistance, development of investor networks, and recruitment programs for midcareer women interested in starting qualified businesses.