Missouri will soon become one of just four states to adopt a program that reduces the government red tape startups have to go through. Gov. Mike Parson has signed a bill creating what’s called a “regulatory sandbox” program.
The provision included in the bill was sponsored by Republican Sen. Denny Hoskins of Warrensburg.
“Any opportunity we have to cut the red tape that’s in the sandbox portion (of the regulation) is a win for the state of Missouri and a win for small businesses,” Gov. Hoskins said at a bill signing ceremony on Tuesday.
Rep. Alex Riley, a Springfield Republican who sponsored the House version, said Missouri would be one of only four states to offer this kind of program.
“This is a program that allows innovators and entrepreneurs, people bringing new ideas, products and services to market, to do so in Missouri. Too often we have an issue with regulations being imposed that halt innovative ideas before they get off the ground.
Senate Bill 894 would also create the Missouri Entrepreneurship Authority. The bill was sponsored by Republican Sen. Travis Fitzwater of Holts Summit.
“You know, we spend a lot of money attracting businesses to Missouri. We don’t spend a lot of money nurturing businesses that start up here,” he said. “I think the governor agrees. We want an office that’s really focused on the risk takers in the state that are willing to take the risk and jump in. An entrepreneurship office, I love the idea. It’s been a huge success across the country. There are a few other states that have entrepreneurship offices. All of our net new jobs come from startups. We want to help our local businesses get up and running.”
The bill is scheduled to become law on August 28th.
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