diff --git a/contracts/optimistic-ethereum/OVM/execution/OVM_ExecutionManager.sol b/contracts/optimistic-ethereum/OVM/execution/OVM_ExecutionManager.sol
index 5042dfaf5..fd42c8cc5 100644
--- a/contracts/optimistic-ethereum/OVM/execution/OVM_ExecutionManager.sol
+++ b/contracts/optimistic-ethereum/OVM/execution/OVM_ExecutionManager.sol
@@ -3,20 +3,23 @@
 pragma solidity >0.5.0 <0.8.0;
 pragma experimental ABIEncoderV2;
 
+
 /* Library Imports */
 import { Lib_OVMCodec } from "../../libraries/codec/Lib_OVMCodec.sol";
 import { Lib_AddressResolver } from "../../libraries/resolver/Lib_AddressResolver.sol";
 import { Lib_EthUtils } from "../../libraries/utils/Lib_EthUtils.sol";
 
-/* Interface Imports */
+/* Inherited Interface Imports */
 import { iOVM_ExecutionManager } from "../../iOVM/execution/iOVM_ExecutionManager.sol";
+
+/* External Interface Imports */
 import { iOVM_StateManager } from "../../iOVM/execution/iOVM_StateManager.sol";
+import { iOVM_SafetyCache } from "../../iOVM/execution/iOVM_SafetyCache.sol";
 import { iOVM_SafetyChecker } from "../../iOVM/execution/iOVM_SafetyChecker.sol";
 
 /* Contract Imports */
 import { OVM_ECDSAContractAccount } from "../accounts/OVM_ECDSAContractAccount.sol";
 import { OVM_ProxyEOA } from "../accounts/OVM_ProxyEOA.sol";
-import { OVM_DeployerWhitelist } from "../precompiles/OVM_DeployerWhitelist.sol";
 
 /**
  * @title OVM_ExecutionManager
@@ -39,7 +42,7 @@ contract OVM_ExecutionManager is iOVM_ExecutionManager, Lib_AddressResolver {
      * External Contract References *
      ********************************/
 
-    iOVM_SafetyChecker internal ovmSafetyChecker;
+    iOVM_SafetyCache internal ovmSafetyCache;
     iOVM_StateManager internal ovmStateManager;
 
 
@@ -81,7 +84,7 @@ contract OVM_ExecutionManager is iOVM_ExecutionManager, Lib_AddressResolver {
     )
         Lib_AddressResolver(_libAddressManager)
     {
-        ovmSafetyChecker = iOVM_SafetyChecker(resolve("OVM_SafetyChecker"));
+        ovmSafetyCache = iOVM_SafetyCache(resolve("OVM_SafetyCache"));
         gasMeterConfig = _gasMeterConfig;
         globalContext = _globalContext;
         _resetContext();
@@ -808,8 +811,8 @@ contract OVM_ExecutionManager is iOVM_ExecutionManager, Lib_AddressResolver {
             _revertWithFlag(RevertFlag.CREATE_COLLISION);
         }
 
-        // Check the creation bytecode against the OVM_SafetyChecker.
-        if (ovmSafetyChecker.isBytecodeSafe(_bytecode) == false) {
+        // Check the creation bytecode against the Safety Cache and Safety Checker.
+        if (ovmSafetyCache.checkAndRegisterSafeBytecode(_bytecode) == false) {
             _revertWithFlag(RevertFlag.UNSAFE_BYTECODE);
         }
 
@@ -840,7 +843,7 @@ contract OVM_ExecutionManager is iOVM_ExecutionManager, Lib_AddressResolver {
         // Again simply checking that the deployed code is safe too. Contracts can generate
         // arbitrary deployment code, so there's no easy way to analyze this beforehand.
         bytes memory deployedCode = Lib_EthUtils.getCode(ethAddress);
-        if (ovmSafetyChecker.isBytecodeSafe(deployedCode) == false) {
+        if (ovmSafetyCache.checkAndRegisterSafeBytecode(deployedCode) == false) {
             _revertWithFlag(RevertFlag.UNSAFE_BYTECODE);
         }
 
@@ -870,7 +873,7 @@ contract OVM_ExecutionManager is iOVM_ExecutionManager, Lib_AddressResolver {
     }
 
     /********************************************
-     * Public Functions: Deployment Witelisting *
+     * Internal Functions: Deployment Witelisting *
      ********************************************/
 
     /**
@@ -1095,23 +1098,6 @@ contract OVM_ExecutionManager is iOVM_ExecutionManager, Lib_AddressResolver {
      * Internal Functions: State Manipulation *
      ******************************************/
 
-    /**
-     * Checks whether an account exists within the OVM_StateManager.
-     * @param _address Address of the account to check.
-     * @return _exists Whether or not the account exists.
-     */
-    function _hasAccount(
-        address _address
-    )
-        internal
-        returns (
-            bool _exists
-        )
-    {
-        _checkAccountLoad(_address);
-        return ovmStateManager.hasAccount(_address);
-    }
-
     /**
      * Checks whether a known empty account exists within the OVM_StateManager.
      * @param _address Address of the account to check.
diff --git a/contracts/optimistic-ethereum/OVM/execution/OVM_SafetyCache.sol b/contracts/optimistic-ethereum/OVM/execution/OVM_SafetyCache.sol
new file mode 100644
index 000000000..099434ed5
--- /dev/null
+++ b/contracts/optimistic-ethereum/OVM/execution/OVM_SafetyCache.sol
@@ -0,0 +1,99 @@
+// SPDX-License-Identifier: MIT
+pragma solidity >0.5.0 <0.8.0;
+
+/* Library Imports */
+import { Lib_AddressResolver } from "../../libraries/resolver/Lib_AddressResolver.sol";
+
+/* External Interface Imports */ 
+import { iOVM_SafetyCache } from "../../iOVM/execution/iOVM_SafetyCache.sol";
+
+/* Inherited Interface Imports */
+import { iOVM_SafetyChecker } from "../../iOVM/execution/iOVM_SafetyChecker.sol";
+
+/**
+ * @title OVM_SafetyCache
+ * @dev This contract implements a simple registry for caching the hash of any bytecode strings which have
+ * already been confirmed safe by the Safety Checker. 
+ *
+ * Compiler used: solc
+ * Runtime target: EVM
+ */
+contract OVM_SafetyCache is iOVM_SafetyCache, Lib_AddressResolver {
+
+
+    /*******************************************
+     * Contract Variables: Contract References *
+     ******************************************/
+
+    iOVM_SafetyChecker internal ovmSafetyChecker;
+
+
+    /****************************************
+     * Contract Variables: Internal Storage *
+     ****************************************/
+
+    mapping(bytes32 => bool) internal isSafeCodehash;
+
+
+    /***************
+     * Constructor *
+     ***************/
+
+    /**
+     * @param _libAddressManager Address of the Address Manager.
+     */
+    constructor(
+        address _libAddressManager
+    )
+        Lib_AddressResolver(_libAddressManager)
+    {
+        ovmSafetyChecker = iOVM_SafetyChecker(resolve("OVM_SafetyChecker"));
+    }
+
+
+    /**********************
+     * External Functions *
+     *********************/
+
+
+    /** Checks the registry to see if the verified bytecode is registered as safe. If not, calls to the 
+    * SafetyChecker to see. 
+    * @param _code A bytes32 hash of the code
+    * @return `true` if the bytecode is safe, `false` otherwise.
+    */
+    function checkAndRegisterSafeBytecode(
+        bytes memory _code
+    ) 
+        override
+        external
+        returns (
+            bool
+    ) {
+        bytes32 codehash = keccak256(abi.encode(_code));
+        if(isSafeCodehash[codehash] == true) {
+            return true;
+        }
+
+        bool safe = ovmSafetyChecker.isBytecodeSafe(_code);
+        if(safe) {
+            isSafeCodehash[codehash] = true;
+        }
+        return safe;
+    }
+
+    /** Used to check if bytecode has already been recorded as safe.
+    * @param _codehash A bytes32 hash of the code
+    */
+    function isRegisteredSafeBytecode(
+        bytes32 _codehash
+    ) 
+        override
+        external
+        view
+        returns (
+            bool
+        )
+    {
+        return isSafeCodehash[_codehash] == true;
+    }
+}
diff --git a/contracts/optimistic-ethereum/OVM/execution/OVM_SafetyChecker.sol b/contracts/optimistic-ethereum/OVM/execution/OVM_SafetyChecker.sol
index ff90584a6..3164d1d5b 100644
--- a/contracts/optimistic-ethereum/OVM/execution/OVM_SafetyChecker.sol
+++ b/contracts/optimistic-ethereum/OVM/execution/OVM_SafetyChecker.sol
@@ -1,7 +1,7 @@
 // SPDX-License-Identifier: MIT
 pragma solidity >0.5.0 <0.8.0;
 
-/* Interface Imports */
+/* Inherited Interface Imports */
 import { iOVM_SafetyChecker } from "../../iOVM/execution/iOVM_SafetyChecker.sol";
 
 /**
diff --git a/contracts/optimistic-ethereum/iOVM/execution/iOVM_SafetyCache.sol b/contracts/optimistic-ethereum/iOVM/execution/iOVM_SafetyCache.sol
new file mode 100644
index 000000000..13dfa20c7
--- /dev/null
+++ b/contracts/optimistic-ethereum/iOVM/execution/iOVM_SafetyCache.sol
@@ -0,0 +1,16 @@
+// SPDX-License-Identifier: MIT
+pragma solidity >0.5.0 <0.8.0;
+
+/**
+ * @title iOVM_SafetyCache
+ */
+interface iOVM_SafetyCache {
+
+    /*********************
+    * External Functions *
+    **********************/
+    function checkAndRegisterSafeBytecode(bytes memory _code) external returns (bool);
+
+    function isRegisteredSafeBytecode(bytes32 _codehash) external view returns (bool);
+
+}
diff --git a/contracts/optimistic-ethereum/iOVM/execution/iOVM_SafetyChecker.sol b/contracts/optimistic-ethereum/iOVM/execution/iOVM_SafetyChecker.sol
index 848e47ddf..91e8465a7 100644
--- a/contracts/optimistic-ethereum/iOVM/execution/iOVM_SafetyChecker.sol
+++ b/contracts/optimistic-ethereum/iOVM/execution/iOVM_SafetyChecker.sol
@@ -10,5 +10,5 @@ interface iOVM_SafetyChecker {
      * Public Functions *
      ********************/
 
-    function isBytecodeSafe(bytes calldata _bytecode) external pure returns (bool);
+    function isBytecodeSafe(bytes calldata _bytecode) external returns (bool);
 }
diff --git a/contracts/test-helpers/Helper_SimpleOvmDeployer.sol b/contracts/test-helpers/Helper_SimpleOvmDeployer.sol
new file mode 100644
index 000000000..9eb194d2a
--- /dev/null
+++ b/contracts/test-helpers/Helper_SimpleOvmDeployer.sol
@@ -0,0 +1,34 @@
+// SPDX-License-Identifier: UNLICENSED
+// SPDX-License-Identifier: MIT
+import { Lib_SafeExecutionManagerWrapper } from "../optimistic-ethereum/libraries/wrappers/Lib_SafeExecutionManagerWrapper.sol";
+
+pragma solidity >0.5.0 <0.8.0;
+
+import "hardhat/console.sol";
+
+contract Helper_SimpleOvmDeployer {
+    
+    // We load the bytcode to deploy as a constant, in order to avoid having to pass it as calldata during testing
+    // which gets us a more accurate gas benchmark
+    // slightly reduced bytecode from "ExchangeRates.sol" as used by Synthetix
+    // the 'BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB' is replacing the unlinked library address
+    bytes constant largeBytecode = hex"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+
+    // A fallback function that allows us to choose between deploying two different initCodes
+    function deploy(uint256 selection)
+        external
+    {
+        bytes memory prefix = hex'600D380380600D6000396000f3';
+        bytes memory initCode;
+        if(selection == 0) {
+            // the resulting deployed bytecode is 0x00
+            // do concat to be clear
+            bytes memory runtimeCode = hex'00';
+            initCode = abi.encodePacked(prefix, runtimeCode);
+        } else if(selection == 1){
+            initCode = abi.encodePacked(prefix, largeBytecode);
+        }
+        
+        address addr = Lib_SafeExecutionManagerWrapper.safeCREATE(gasleft(), initCode);
+    }
+}
diff --git a/test/contracts/OVM/execution/OVM_ExecutionManager.gas-spec.ts b/test/contracts/OVM/execution/OVM_ExecutionManager.gas-spec.ts
index f3ed69447..b4f620780 100644
--- a/test/contracts/OVM/execution/OVM_ExecutionManager.gas-spec.ts
+++ b/test/contracts/OVM/execution/OVM_ExecutionManager.gas-spec.ts
@@ -3,7 +3,7 @@ import { deployContractCode } from '../../../helpers/utils'
 
 /* External Imports */
 import { ethers } from 'hardhat'
-import { Contract, ContractFactory, Signer } from 'ethers'
+import { BigNumber, Contract, ContractFactory, Signer } from 'ethers'
 import { smockit, MockContract } from '@eth-optimism/smock'
 
 /* Internal Imports */
@@ -12,6 +12,7 @@ import {
   NON_ZERO_ADDRESS,
   NON_NULL_BYTES32,
   GasMeasurement,
+  DUMMY_BYTES32,
 } from '../../../helpers'
 
 const DUMMY_GASMETERCONFIG = {
@@ -30,85 +31,88 @@ const QUEUE_ORIGIN = {
   L1TOL2_QUEUE: 1,
 }
 
-const DUMMY_TRANSACTION = {
-  timestamp: 111111111111,
-  blockNumber: 20,
-  l1QueueOrigin: QUEUE_ORIGIN.SEQUENCER_QUEUE,
-  l1TxOrigin: NON_ZERO_ADDRESS,
-  entrypoint: NON_ZERO_ADDRESS, // update this below
-  gasLimit: 10_000_000,
-  data: 0,
+const getCreateAddress = async (stateManager: Contract, creator: string) => {
+  const creatorNonce = await stateManager.getAccountNonce(creator)
+  const createAddress = ethers.utils.getContractAddress({
+    from: creator,
+    nonce: creatorNonce,
+  })
+  return createAddress
 }
 
-describe('OVM_ExecutionManager gas consumption', () => {
-  let wallet: Signer
-  before(async () => {
-    ;[wallet] = await ethers.getSigners()
-  })
+describe('OVM_ExecutionManager Benchmarks', () => {
+  describe('em.run() benchmark: executing a minimal contract', async () => {
+    let wallet: Signer
+    let Factory__OVM_ExecutionManager: ContractFactory
+    let OVM_ExecutionManager: Contract
+    let MOCK__STATE_MANAGER: MockContract
+    let AddressManager: Contract
+    let targetContractAddress: string
+    let gasMeasurement: GasMeasurement
+    let DUMMY_TRANSACTION
+    before(async () => {
+      ;[wallet] = await ethers.getSigners()
+      Factory__OVM_ExecutionManager = await ethers.getContractFactory(
+        'OVM_ExecutionManager'
+      )
 
-  let Factory__OVM_ExecutionManager: ContractFactory
-  let MOCK__STATE_MANAGER: MockContract
-  let AddressManager: Contract
-  let targetContractAddress: string
-  let gasMeasurement: GasMeasurement
-  before(async () => {
-    Factory__OVM_ExecutionManager = await ethers.getContractFactory(
-      'OVM_ExecutionManager'
-    )
-
-    // Deploy a simple contract that just returns successfully with no data
-    targetContractAddress = await deployContractCode(
-      '60206001f3',
-      wallet,
-      10_000_000
-    )
-    DUMMY_TRANSACTION.entrypoint = targetContractAddress
-
-    AddressManager = await makeAddressManager()
-
-    // deploy the state manager and mock it for the state transitioner
-    MOCK__STATE_MANAGER = await smockit(
-      await (await ethers.getContractFactory('OVM_StateManager')).deploy(
-        NON_ZERO_ADDRESS
-      )
-    )
-
-    // Setup the SM to satisfy all the checks executed during EM.run()
-    MOCK__STATE_MANAGER.smocked.isAuthenticated.will.return.with(true)
-    MOCK__STATE_MANAGER.smocked.getAccountEthAddress.will.return.with(
-      targetContractAddress
-    )
-    MOCK__STATE_MANAGER.smocked.hasAccount.will.return.with(true)
-    MOCK__STATE_MANAGER.smocked.testAndSetAccountLoaded.will.return.with(true)
-
-    await AddressManager.setAddress(
-      'OVM_StateManagerFactory',
-      MOCK__STATE_MANAGER.address
-    )
-
-    gasMeasurement = new GasMeasurement()
-    await gasMeasurement.init(wallet)
-  })
+      DUMMY_TRANSACTION = {
+        timestamp: 111111111111,
+        blockNumber: 20,
+        l1QueueOrigin: QUEUE_ORIGIN.SEQUENCER_QUEUE,
+        l1TxOrigin: NON_ZERO_ADDRESS,
+        entrypoint: NON_ZERO_ADDRESS, // update this below
+        gasLimit: 10_000_000,
+        data: 0,
+      }
 
-  let OVM_ExecutionManager: Contract
-  beforeEach(async () => {
-    OVM_ExecutionManager = (
-      await Factory__OVM_ExecutionManager.deploy(
-        AddressManager.address,
-        DUMMY_GASMETERCONFIG,
-        DUMMY_GLOBALCONTEXT
+      // Deploy a simple contract that just returns successfully with no data
+      targetContractAddress = await deployContractCode(
+        '60206001f3',
+        wallet,
+        10_000_000
+      )
+      DUMMY_TRANSACTION.entrypoint = targetContractAddress
+
+      AddressManager = await makeAddressManager()
+
+      // deploy the state manager and mock it for the state transitioner
+      MOCK__STATE_MANAGER = await smockit(
+        await (await ethers.getContractFactory('OVM_StateManager')).deploy(
+          NON_ZERO_ADDRESS
+        )
       )
-    ).connect(wallet)
-  })
 
-  describe('Measure cost of a very simple contract', async () => {
+      // Setup the SM to satisfy all the checks executed during EM.run()
+      MOCK__STATE_MANAGER.smocked.isAuthenticated.will.return.with(true)
+      MOCK__STATE_MANAGER.smocked.getAccountEthAddress.will.return.with(
+        targetContractAddress
+      )
+      MOCK__STATE_MANAGER.smocked.hasAccount.will.return.with(true)
+      MOCK__STATE_MANAGER.smocked.testAndSetAccountLoaded.will.return.with(true)
+
+      await AddressManager.setAddress(
+        'OVM_StateManagerFactory',
+        MOCK__STATE_MANAGER.address
+      )
+
+      gasMeasurement = new GasMeasurement()
+      await gasMeasurement.init(wallet)
+      OVM_ExecutionManager = (
+        await Factory__OVM_ExecutionManager.deploy(
+          AddressManager.address,
+          DUMMY_GASMETERCONFIG,
+          DUMMY_GLOBALCONTEXT
+        )
+      ).connect(wallet)
+    })
     it('Gas cost of run', async () => {
       const gasCost = await gasMeasurement.getGasCost(
         OVM_ExecutionManager,
         'run',
         [DUMMY_TRANSACTION, MOCK__STATE_MANAGER.address]
       )
-      console.log(`calculated gas cost of ${gasCost}`)
+      console.log(`      calculated gas cost of ${gasCost}`)
 
       const benchmark: number = 226_516
       expect(gasCost).to.be.lte(benchmark)
@@ -118,4 +122,216 @@ describe('OVM_ExecutionManager gas consumption', () => {
       )
     })
   })
+  describe('em.run() benchmark: contract deployment', async () => {
+    let Helper_SimpleDeployer: Contract
+    let wallet: Signer
+    let OVM_SafetyChecker: Contract
+    let OVM_SafetyCache: Contract
+    let MOCK__OVM_DeployerWhitelist: MockContract
+
+    let OVM_StateManager: Contract
+    let AddressManager: Contract
+    let gasMeasurement: GasMeasurement
+    let OVM_ExecutionManager: Contract
+    let DUMMY_TRANSACTION
+    before(async () => {
+      ;[wallet] = await ethers.getSigners()
+
+      AddressManager = await makeAddressManager()
+
+      // Deploy Safety Checker and register it with the Address Manager
+      OVM_SafetyChecker = await (
+        await ethers.getContractFactory('OVM_SafetyChecker')
+      ).deploy()
+      await AddressManager.setAddress(
+        'OVM_SafetyChecker',
+        OVM_SafetyChecker.address
+      )
+
+      // Deploy Safety Cache and register it with the Address Manager
+      OVM_SafetyCache = await (
+        await ethers.getContractFactory('OVM_SafetyCache')
+      ).deploy(AddressManager.address)
+      await AddressManager.setAddress(
+        'OVM_SafetyCache',
+        OVM_SafetyCache.address
+      )
+
+      // Setup Mock Deployer Whitelist and register it with the Address Manager
+      MOCK__OVM_DeployerWhitelist = await smockit(
+        await ethers.getContractFactory('OVM_DeployerWhitelist')
+      )
+      MOCK__OVM_DeployerWhitelist.smocked.isDeployerAllowed.will.return.with(
+        true
+      )
+      await AddressManager.setAddress(
+        'OVM_DeployerWhitelist',
+        MOCK__OVM_DeployerWhitelist.address
+      )
+
+      // Setup the EM
+      OVM_ExecutionManager = await (
+        await ethers.getContractFactory('OVM_ExecutionManager')
+      ).deploy(
+        AddressManager.address,
+        DUMMY_GASMETERCONFIG,
+        DUMMY_GLOBALCONTEXT
+      )
+
+      // Deploy GasMeasurement utility
+      gasMeasurement = new GasMeasurement()
+      await gasMeasurement.init(wallet)
+
+      // Setup the State Manger and modify it to allow execution to proceed
+      OVM_StateManager = await (
+        await ethers.getContractFactory('OVM_StateManager')
+      ).deploy(await wallet.getAddress())
+
+      // Setup the SM to satisfy all the checks executed during EM.run()
+      await OVM_StateManager.putAccount(
+        '0x4200000000000000000000000000000000000002',
+        {
+          nonce: BigNumber.from(123),
+          balance: BigNumber.from(456),
+          storageRoot: DUMMY_BYTES32[0],
+          codeHash: DUMMY_BYTES32[1],
+          ethAddress: MOCK__OVM_DeployerWhitelist.address,
+        }
+      )
+      await OVM_StateManager.setExecutionManager(OVM_ExecutionManager.address)
+
+      // Deploy a simple OVM-safe contract that just deploys another contract
+      Helper_SimpleDeployer = await (
+        await ethers.getContractFactory('Helper_SimpleOvmDeployer')
+      ).deploy()
+
+      DUMMY_TRANSACTION = {
+        timestamp: 111111111111,
+        blockNumber: 20,
+        l1QueueOrigin: QUEUE_ORIGIN.SEQUENCER_QUEUE,
+        l1TxOrigin: NON_ZERO_ADDRESS,
+        entrypoint: Helper_SimpleDeployer.address,
+        gasLimit: 10_000_000,
+        data: Helper_SimpleDeployer.interface.encodeFunctionData(
+          'deploy(uint256)',
+          [0]
+        ),
+      }
+      await OVM_StateManager.putAccount(Helper_SimpleDeployer.address, {
+        nonce: BigNumber.from(123),
+        balance: BigNumber.from(456),
+        storageRoot: DUMMY_BYTES32[0],
+        codeHash: DUMMY_BYTES32[1],
+        ethAddress: Helper_SimpleDeployer.address,
+      })
+    })
+
+    it('Gas Benchmark: un-cached minimal contract deployment', async () => {
+      const createAddr = await getCreateAddress(
+        OVM_StateManager,
+        Helper_SimpleDeployer.address
+      )
+
+      // Set destination for first contract deployment
+      await OVM_StateManager.putEmptyAccount(createAddr)
+      const tx = await OVM_ExecutionManager.run(
+        DUMMY_TRANSACTION,
+        OVM_StateManager.address
+      )
+      await tx.wait()
+      const gasCost = (await ethers.provider.getTransactionReceipt(tx.hash))
+        .gasUsed
+      console.log(`      calculated gas cost of ${gasCost}`)
+
+      const benchmark: number = 581_993
+      expect(gasCost).to.be.lte(benchmark)
+      expect(gasCost).to.be.gte(
+        benchmark - 1_000,
+        'Gas cost has significantly decreased, consider updating the benchmark to reflect the change'
+      )
+    })
+
+    it('Gas Benchmark: cached minimal contract deployment', async () => {
+      // Set destination for second contract deployment
+      const createAddr = await getCreateAddress(
+        OVM_StateManager,
+        Helper_SimpleDeployer.address
+      )
+      await OVM_StateManager.putEmptyAccount(createAddr)
+
+      // run the exact same flow as the previous. This time the Safety Cache should recognize the string.
+      const tx = await OVM_ExecutionManager.run(
+        DUMMY_TRANSACTION,
+        OVM_StateManager.address
+      )
+      await tx.wait()
+      const gasCost = (await ethers.provider.getTransactionReceipt(tx.hash))
+        .gasUsed
+      console.log(`      calculated gas cost of ${gasCost}`)
+
+      const benchmark: number = 415_329
+      expect(gasCost).to.be.lte(benchmark)
+      expect(gasCost).to.be.gte(
+        benchmark - 1_000,
+        'Gas cost has significantly decreased, consider updating the benchmark to reflect the change'
+      )
+    })
+
+    it('Gas Benchmark: un-cached larger contract deployment ', async () => {
+      DUMMY_TRANSACTION.data = Helper_SimpleDeployer.interface.encodeFunctionData(
+        'deploy(uint256)',
+        [1]
+      )
+
+      const createAddr = await getCreateAddress(
+        OVM_StateManager,
+        Helper_SimpleDeployer.address
+      )
+      // Set destination for first contract deployment
+      await OVM_StateManager.putEmptyAccount(createAddr)
+      const tx = await OVM_ExecutionManager.run(
+        DUMMY_TRANSACTION,
+        OVM_StateManager.address
+      )
+      await tx.wait()
+      const gasCost = (await ethers.provider.getTransactionReceipt(tx.hash))
+        .gasUsed
+      console.log(`      calculated gas cost of ${gasCost}`)
+
+      const benchmark: number = 7_044_545
+      expect(gasCost).to.be.lte(benchmark)
+      expect(gasCost).to.be.gte(
+        benchmark - 1_000,
+        'Gas cost has significantly decreased, consider updating the benchmark to reflect the change'
+      )
+    })
+
+    it('Gas Benchmark: cached larger contract deployment ', async () => {
+      DUMMY_TRANSACTION.data = Helper_SimpleDeployer.interface.encodeFunctionData(
+        'deploy(uint256)',
+        [1]
+      )
+      // Set destination for contract deployment
+      const createAddr = await getCreateAddress(
+        OVM_StateManager,
+        Helper_SimpleDeployer.address
+      )
+      await OVM_StateManager.putEmptyAccount(createAddr)
+      const tx = await OVM_ExecutionManager.run(
+        DUMMY_TRANSACTION,
+        OVM_StateManager.address
+      )
+      await tx.wait()
+      const gasCost = (await ethers.provider.getTransactionReceipt(tx.hash))
+        .gasUsed
+      console.log(`      calculated gas cost of ${gasCost}`)
+
+      const benchmark: number = 5_537_215
+      expect(gasCost).to.be.lte(benchmark)
+      expect(gasCost).to.be.gte(
+        benchmark - 1_000,
+        'Gas cost has significantly decreased, consider updating the benchmark to reflect the change'
+      )
+    })
+  })
 })
diff --git a/test/contracts/OVM/execution/OVM_ExecutionManager/context-opcodes.spec.ts b/test/contracts/OVM/execution/OVM_ExecutionManager/context-opcodes.spec.ts
index bddcd4baa..eae7ef693 100644
--- a/test/contracts/OVM/execution/OVM_ExecutionManager/context-opcodes.spec.ts
+++ b/test/contracts/OVM/execution/OVM_ExecutionManager/context-opcodes.spec.ts
@@ -29,7 +29,7 @@ const test_contextOpcodes: TestDefinition = {
   preState: {
     ExecutionManager: {
       ovmStateManager: '$OVM_STATE_MANAGER',
-      ovmSafetyChecker: '$OVM_SAFETY_CHECKER',
+      ovmSafetyCache: '$OVM_SAFETY_CACHE',
       messageRecord: {
         nuisanceGasLeft: OVM_TX_GAS_LIMIT,
       },
diff --git a/test/contracts/OVM/execution/OVM_ExecutionManager/nuisance-gas.spec.ts b/test/contracts/OVM/execution/OVM_ExecutionManager/nuisance-gas.spec.ts
index 2f1fd9f58..6a80bf423 100644
--- a/test/contracts/OVM/execution/OVM_ExecutionManager/nuisance-gas.spec.ts
+++ b/test/contracts/OVM/execution/OVM_ExecutionManager/nuisance-gas.spec.ts
@@ -22,7 +22,7 @@ const test_nuisanceGas: TestDefinition = {
   preState: {
     ExecutionManager: {
       ovmStateManager: '$OVM_STATE_MANAGER',
-      ovmSafetyChecker: '$OVM_SAFETY_CHECKER',
+      ovmSafetyCache: '$OVM_SAFETY_CACHE',
       messageRecord: {
         nuisanceGasLeft: OVM_TX_GAS_LIMIT,
       },
diff --git a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmCALL.spec.ts b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmCALL.spec.ts
index 6ff25e814..6749a3ebd 100644
--- a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmCALL.spec.ts
+++ b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmCALL.spec.ts
@@ -18,7 +18,7 @@ const test_ovmCALL: TestDefinition = {
   preState: {
     ExecutionManager: {
       ovmStateManager: '$OVM_STATE_MANAGER',
-      ovmSafetyChecker: '$OVM_SAFETY_CHECKER',
+      ovmSafetyCache: '$OVM_SAFETY_CACHE',
       messageRecord: {
         nuisanceGasLeft: OVM_TX_GAS_LIMIT,
       },
diff --git a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmCREATE.spec.ts b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmCREATE.spec.ts
index 849abb166..79014851c 100644
--- a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmCREATE.spec.ts
+++ b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmCREATE.spec.ts
@@ -39,7 +39,7 @@ const test_ovmCREATE: TestDefinition = {
   preState: {
     ExecutionManager: {
       ovmStateManager: '$OVM_STATE_MANAGER',
-      ovmSafetyChecker: '$OVM_SAFETY_CHECKER',
+      ovmSafetyCache: '$OVM_SAFETY_CACHE',
       messageRecord: {
         nuisanceGasLeft: OVM_TX_GAS_LIMIT,
       },
diff --git a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmCREATEEOA.spec.ts b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmCREATEEOA.spec.ts
index 09ad78d59..39f3477e2 100644
--- a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmCREATEEOA.spec.ts
+++ b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmCREATEEOA.spec.ts
@@ -16,7 +16,7 @@ const test_ovmCREATEEOA: TestDefinition = {
   preState: {
     ExecutionManager: {
       ovmStateManager: '$OVM_STATE_MANAGER',
-      ovmSafetyChecker: '$OVM_SAFETY_CHECKER',
+      ovmSafetyCache: '$OVM_SAFETY_CACHE',
       messageRecord: {
         nuisanceGasLeft: OVM_TX_GAS_LIMIT,
       },
diff --git a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmDELEGATECALL.spec.ts b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmDELEGATECALL.spec.ts
index a6d114c75..c63cd00b1 100644
--- a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmDELEGATECALL.spec.ts
+++ b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmDELEGATECALL.spec.ts
@@ -16,7 +16,7 @@ const test_ovmDELEGATECALL: TestDefinition = {
   preState: {
     ExecutionManager: {
       ovmStateManager: '$OVM_STATE_MANAGER',
-      ovmSafetyChecker: '$OVM_SAFETY_CHECKER',
+      ovmSafetyCache: '$OVM_SAFETY_CACHE',
       messageRecord: {
         nuisanceGasLeft: OVM_TX_GAS_LIMIT,
       },
diff --git a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmREVERT.spec.ts b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmREVERT.spec.ts
index fb5590c90..90c11425c 100644
--- a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmREVERT.spec.ts
+++ b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmREVERT.spec.ts
@@ -12,7 +12,7 @@ const test_ovmREVERT: TestDefinition = {
   preState: {
     ExecutionManager: {
       ovmStateManager: '$OVM_STATE_MANAGER',
-      ovmSafetyChecker: '$OVM_SAFETY_CHECKER',
+      ovmSafetyCache: '$OVM_SAFETY_CACHE',
       messageRecord: {
         nuisanceGasLeft: OVM_TX_GAS_LIMIT,
       },
diff --git a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmSLOAD.spec.ts b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmSLOAD.spec.ts
index eb401998a..6f71af6b4 100644
--- a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmSLOAD.spec.ts
+++ b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmSLOAD.spec.ts
@@ -13,7 +13,7 @@ const test_ovmSLOAD: TestDefinition = {
   preState: {
     ExecutionManager: {
       ovmStateManager: '$OVM_STATE_MANAGER',
-      ovmSafetyChecker: '$OVM_SAFETY_CHECKER',
+      ovmSafetyCache: '$OVM_SAFETY_CACHE',
       messageRecord: {
         nuisanceGasLeft: OVM_TX_GAS_LIMIT,
       },
diff --git a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmSTATICCALL.spec.ts b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmSTATICCALL.spec.ts
index 33b507805..78d1e2939 100644
--- a/test/contracts/OVM/execution/OVM_ExecutionManager/ovmSTATICCALL.spec.ts
+++ b/test/contracts/OVM/execution/OVM_ExecutionManager/ovmSTATICCALL.spec.ts
@@ -15,7 +15,7 @@ const test_ovmSTATICCALL: TestDefinition = {
   preState: {
     ExecutionManager: {
       ovmStateManager: '$OVM_STATE_MANAGER',
-      ovmSafetyChecker: '$OVM_SAFETY_CHECKER',
+      ovmSafetyCache: '$OVM_SAFETY_CACHE',
       messageRecord: {
         nuisanceGasLeft: OVM_TX_GAS_LIMIT,
       },
diff --git a/test/contracts/OVM/execution/OVM_ExecutionManager/run.spec.ts b/test/contracts/OVM/execution/OVM_ExecutionManager/run.spec.ts
index 18cfd8afe..ae4eb260a 100644
--- a/test/contracts/OVM/execution/OVM_ExecutionManager/run.spec.ts
+++ b/test/contracts/OVM/execution/OVM_ExecutionManager/run.spec.ts
@@ -27,7 +27,7 @@ const test_run: TestDefinition = {
   preState: {
     ExecutionManager: {
       ovmStateManager: '$OVM_STATE_MANAGER',
-      ovmSafetyChecker: '$OVM_SAFETY_CHECKER',
+      ovmSafetyCache: '$OVM_SAFETY_CACHE',
       messageRecord: {
         nuisanceGasLeft: OVM_TX_GAS_LIMIT,
       },
diff --git a/test/helpers/test-runner/test-runner.ts b/test/helpers/test-runner/test-runner.ts
index 27fcd2e74..62a467765 100644
--- a/test/helpers/test-runner/test-runner.ts
+++ b/test/helpers/test-runner/test-runner.ts
@@ -43,6 +43,7 @@ export class ExecutionManagerTestRunner {
   private snapshot: string
   private contracts: {
     OVM_SafetyChecker: Contract
+    OVM_SafetyCache: Contract
     OVM_StateManager: ModifiableContract
     OVM_ExecutionManager: ModifiableContract
     Helper_TestRunner: Contract
@@ -50,6 +51,7 @@ export class ExecutionManagerTestRunner {
     OVM_DeployerWhitelist: Contract
   } = {
     OVM_SafetyChecker: undefined,
+    OVM_SafetyCache: undefined,
     OVM_StateManager: undefined,
     OVM_ExecutionManager: undefined,
     Helper_TestRunner: undefined,
@@ -189,6 +191,7 @@ export class ExecutionManagerTestRunner {
       await ethers.getContractFactory('Lib_AddressManager')
     ).deploy()
 
+    // Setup SafetyChecker
     const SafetyChecker = await (
       await ethers.getContractFactory('OVM_SafetyChecker')
     ).deploy()
@@ -203,12 +206,30 @@ export class ExecutionManagerTestRunner {
       this.contracts.OVM_SafetyChecker.address
     )
 
+    // Setup SafetyCache
+    const SafetyCache = await (
+      await ethers.getContractFactory('OVM_SafetyCache')
+    ).deploy(AddressManager.address)
+
+    const MockSafetyCache = await smockit(SafetyCache)
+    MockSafetyCache.smocked.isRegisteredSafeBytecode.will.return.with(true)
+    MockSafetyCache.smocked.checkAndRegisterSafeBytecode.will.return.with(true)
+
+    this.contracts.OVM_SafetyCache = MockSafetyCache
+
+    await AddressManager.setAddress(
+      'OVM_SafetyCache',
+      this.contracts.OVM_SafetyCache.address
+    )
+
+    // Setup DeployerWhitelist
     const DeployerWhitelist = await (
       await ethers.getContractFactory('OVM_DeployerWhitelist')
     ).deploy()
 
     this.contracts.OVM_DeployerWhitelist = DeployerWhitelist
 
+    // Setup EM
     this.contracts.OVM_ExecutionManager = await (
       await smoddit('OVM_ExecutionManager')
     ).deploy(
@@ -224,6 +245,7 @@ export class ExecutionManagerTestRunner {
       }
     )
 
+    // Setup SM
     this.contracts.OVM_StateManager = await (
       await smoddit('OVM_StateManager')
     ).deploy(await this.contracts.OVM_ExecutionManager.signer.getAddress())
@@ -252,6 +274,8 @@ export class ExecutionManagerTestRunner {
         return this.contracts.OVM_ExecutionManager.address
       } else if (kv === '$OVM_STATE_MANAGER') {
         return this.contracts.OVM_StateManager.address
+      } else if (kv === '$OVM_SAFETY_CACHE') {
+        return this.contracts.OVM_SafetyCache.address
       } else if (kv === '$OVM_SAFETY_CHECKER') {
         return this.contracts.OVM_SafetyChecker.address
       } else if (kv === '$OVM_CALL_HELPER') {