The Buckeye Institute testified on March 24 before the Ohio Senate General Government Committee in support of Senate Bill 90, which proposes a universal regulatory sandbox to help businesses bring new products to market safely.
Supporters say the bill could make it easier for entrepreneurs and startups to develop innovative products while maintaining consumer protections. Greg R. Lawson, senior research fellow at The Buckeye Institute, said during his testimony that “Senate Bill 90 adopts a universal regulatory sandbox to help Ohio businesses and regulators work together to bring products to market safely and with fewer bureaucratic hurdles,” adding that the policy will benefit “entrepreneurs, business startups, and consumers by encouraging teamwork between businesses and state regulators.”
Lawson explained that expanding upon the state’s financial sector sandbox would position Ohio as the sixth state with a universal sandbox across economic sectors. He also noted that extending the timeline for participation from two years to five years would allow businesses more time to recoup investments and decrease risk. The bill also creates opportunities for reciprocity with other states using similar sandboxes.
He cited potential benefits for sectors such as agriculture—highlighting innovations like DNA soil sampling—and healthcare, where artificial intelligence could drive new reforms. Lawson said these measures would cut “bureaucratic red tape so that businesses can develop innovative new products safely and more affordably.”
According to the official website, The Buckeye Institute depended on private funding from individuals, corporations, and foundations according to the organization. The group had offices on Capitol Square in Columbus, Ohio according to its website, focused its efforts primarily within Ohio while promoting free-market ideas nationally as reported by The Buckeye Institute, worked through research, data analysis, and policy development according to its official site, aided policymakers with research supporting free-market principles as stated by The Buckeye Institute, and was classified as a nonprofit under section 501(c)(3) of the Internal Revenue Code according to its official website.
Lawson concluded his remarks by saying: “Adopting the universal regulatory sandbox in Senate Bill 90 will help and encourage Ohio entrepreneurs, protect consumers, and improve the state’s regulatory structure by cutting bureaucratic red tape so that businesses can develop innovative new products safely and more affordably.”
