Record number of new businesses locate in Ohio

February 20, 2013

Frank Lewis

PDT Staff Writer

Secretary of State Jon Husted announced Wednesday that the number of new companies that filed in Ohio in 2012 set a record for the state based on data available. In total, 88,068 new entities filed to do business last year – the most in the state’s 209-year history.

“More companies choosing to do business in our state helps grow our economy and increases job prospects for people across Ohio,” Husted said. “My office will continue our efforts to make setting up a business in Ohio as easy as possible.”

Husted also noted that more than 2.1 million new businesses have filed with the state since Ohio officially became a state in 1803.

Last month, Husted announced that 2012 year-end filing figures for new businesses showed three consecutive years of growth. In fact, data showed that the number of new companies that filed with the state increased 16.5 percent from 2009 to 2012.

“Ohio is heading in the right direction,” Husted said. “We should build upon these successes and continue to make our state the preferred location for entrepreneurs to grow their businesses and create jobs.”

The number of new business filings for December 2012 surpassed those from 2011. In total, 6,975 new entities filed to do business in Ohio in December of last year, compared to 6,463 in December 2011.

Though the most visible role of the Secretary of State is that of chief elections officer, the office is also the first stop for individuals or companies who want to file and start a business in Ohio. While recognizing these numbers can’t provide a complete picture of Ohio’s jobs climate, Husted said they are an important indicator of economic activity he hopes will add to the discussion of how to improve the state’s overall climate for business.

According to the JobsOhio website, Ohio is generating momentum with more than 127,300 jobs created since January 2011, and is experiencing its lowest unemployment rate (6.9%) since 2008.

JobsOhio credits a business-friendly tax environment.

“In Ohio, we’re doing something about it,” the JobsOhio website says. “Ohio’s five-year tax reform has lowered business tax burdens by more than half, eliminating taxes on inventory, corporate income and investments in equipment.”

Editor’s Note: New business filings are classified as forms filed with the Ohio Secretary of State that declare the formation of a business entity, including for-profit, non-profit and professional corporations, limited liability companies, partnerships, limited partnerships and limited liability partnerships. Filing as a business in Ohio does not guarantee the company will begin operations, be profitable or create jobs.

Frank Lewis may be reached at 740-353-3101, ext. 252, or at flewis@civitasmedia.com.