Sandboxes are alternative regulatory frameworks for companies with innovative products or business models. These companies still have to meet consumer protection requirements, but don’t have to work through years of red tape.
Sandboxes have been introduced both across the country and the world. States like Utah, Wyoming, and Florida have all embraced sandboxes. A study of companies who took advantage of sandboxes in the United Kingdom found that these businesses made it to market 40 percent faster, were 50 percent more likely to raise money, and raised 15 percent more than companies not in sandboxes.
In short, sandboxes will encourage job growth and opportunities that strengthens Louisiana families.