PRIMER: Promoting Economic Freedom

News Release

June 29, 2018

Arizona has made it a priority to eliminate burdensome rules that hamper innovation. It’s this priority that has created an environment for Arizona businesses and entrepreneurs to develop, innovate, grow and expand.

“Over the past three years we’ve worked hard to transform the culture of this government,” said Governor Ducey.

“We’re cutting red tape, chipping away at regulations and opening up economic freedom.”

Arizona’s efforts to streamline government and lessen regulatory burdens across sectors of our state's economy include:  

  • Regulation Rollback: In 2017, Governor Ducey set the goal of eliminating 500 unnecessary regulations, while ensuring those that protect public health and safety remain entact. Arizona agencies succeeded in eliminating 676 needless regulations by year’s end — saving Arizona businesses over $48 million in lost productivity.
  • Food Truck Freedom: The Food Truck Freedom Bill, signed by Governor Ducey in May of 2018, streamlines the licensing framework for mobile food vendors in Arizona. The creation of a level playing field across the state will facilitate the continued growth of the dynamic food truck industry.
  • FinTech Sandbox: Arizona became the first state in the nation to establish a regulatory sandbox allowing startups and entrepreneurs in the fintech sector to test new financial products without incurring regulatory burdens that might otherwise hamper innovation.
  • Halting New Regulations: As his first official act in office, Governor Ducey issued a moratorium on all new regulatory rulemaking by state agencies. He has reissued that executive order each year in office, putting a halt to the creation of new regulations that burden Arizona’s businesses.
  • Embracing Blockchain: Governor Ducey signed into law a bill during the 2018 legislative session which authorizes companies to hold and share data using blockchain technology. By embracing the new technology, the bill puts blockchain on par with written records.  

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