Press Release: Cardinal Institute Releases New Research on Regulatory Sandboxes in W.Va.
FOR IMMEDIATE RELEASE
DATE: February 1st, 2022
FOR MORE INFORMATION CONTACT
Amanda Kieffer, Communications Director at Cardinal Institute for WV Policy
PHONE: (304)-541-9551 EMAIL: [email protected]
Cardinal Institute Releases New Research on Regulatory Sandboxes in W.Va.
Charleston, W. Va.—The Cardinal Institute for West Virginia has released a new paper explaining the innovative policy of regulatory sandboxes and the benefits that an all-inclusive sandbox could have to economic development in West Virginia. In conjunction with the release of this paper, the Cardinal Institute is also releasing a new video explaining this policy concept in an easily digestible format.
Regulatory Sandboxes are gaining momentum across the nation as spaces for businesses to experiment with new ideas independent of regulatory burdens. These spaces are temporary and often require companies to enter contracts that limit their time in the sandbox, require increased communication with regulatory offices, and provide firms with a way to test a new product without premature government intervention. This lowers the costs of improvisation, creates a more accessible setup, and promotes a timelier release of new products.
“Regulations continually inhibit economic development in our state. It is vital to explore creative ways to ensure our neighbors have a fair chance to provide new products or services in the Mountain State,” said Jessica Dobrinsky, policy development associate for the Cardinal Institute for West Virginia Policy. “Regulatory sandboxes are an innovative approach allowing companies to enter the market under regulatory suspensions to make a compelling case for the repeal of prohibitive laws. Enactment of an all-inclusive sandbox is a signal to the nation that West Virginia is open for business.”
About the Cardinal Institute
The Cardinal Institute for West Virginia Policy, Inc. is a 501(c)(3) non-profit founded in September 2014 dedicated to research, develop, and communicate effective free market economic public policies for West Virginia.