COLUMBUS – Ohio Secretary of State Jon Husted announced 7,512 new entities filed to do business in Ohio during August 2015. This number is in line with the same month in 2014 when 7,545 entities filed.
So far in 2015, 67,374 new businesses have been formed in Ohio, maintaining course for 2015 to be another record-breaking year for the state. At the same point in 2014, 63,721 new businesses were filed with the Secretary of State.
On Sept. 24, the costs associated with starting a new business in Ohio will be reduced by 21 percent, making Ohio the least costly state in the region to start and maintain a business. The cost reduction represents the first time the fee has been cut in modern history. The cut was made possible by Secretary Husted’s responsible fiscal stewardship over the office, which reduced operating expenses by more than $14 million over the past four years representing a 16 percent cut from the previous administration.
That same stewardship earned Secretary Husted the distinction of being the only statewide officeholder to request a reduction in state funding in the most recent biennial budget proposal enacted by the General Assembly.
The state has experienced record business growth each year for the past five years, beginning in 2010. Under the leadership of Secretary Husted, the state has made it possible for more than 80% of all filings to be done online with one in two companies now being established electronically through the Secretary of State’s Ohio Business Central service.
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, they are an important indicator of economic activity that Secretary Husted hopes will add to the ongoing discussion of how to improve the state’s overall climate for business.
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.