COLUMBUS– Ohio Secretary of State Jon Husted today announced 10,712 new entities filed to do business in Ohio during May 2017, an increase of 2,116 when compared to the same month in 2016. Today’s announcement makes May 2017 the second best month for new business formation in Ohio’s history with March 2017 being the best month.
So far, 53,345 new entities have filed to do business in Ohio in 2017. Due to the use of Ohio Business Central, the online business filing site founded by Secretary Husted in 2013, this number continues to climb. Already in 2017, three out of every four entities founded were started online. From the time Ohio Business Central was launched until the end of May 2017, the Secretary of State’s Office has processed over 253,033 online filings.
May 2017 marked 19 months since Secretary Husted reduced the cost of starting and maintaining a business in the Buckeye State by 21 percent. This change has saved Ohio businesses over $4 million to date.
Secretary Husted’s efforts to cut costs don’t stop there. In fact, he has requested a 100 percent cut in the amount of tax dollars needed to run his office for the next two years, saving taxpayers nearly $5 million. Secretary Husted can do this because during his first term he reduced spending by $14.5 million, a 16 percent reduction when compared to the previous administration. He is also operating his office with nearly 32 percent fewer staff. With only 130 employees, down from 190 when Secretary Husted took office, payroll costs at the Secretary of State’s Office is now at its lowest level in nine years.
Secretary Husted’s success in improving customer service is also apparent by the fact that more people are choosing Ohio as the place to do business. Earlier this year he announced that 2016 was the seventh consecutive year the state has seen a record number of new entities filing to do business in Ohio (Click here to read more). With strong filing growth in the first quarter of 2017, Ohio is well on its way to another record year.
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.
Editor’s Quick Facts:
- 10,712 new entities filed to do business in Ohio during May 2017.
- 2,116 more entities filed in May 2017 than during the same month in 2016.
- Since Ohio Business Central was launched, over 253,033 entities have been formed online through May 2017.
- Three out of every four businesses are now started online in Ohio.
- Since Secretary Husted reduced the cost of starting and maintaining a business in Ohio businesses have saved over $4 million.
- Cut spending by more than $14.5 million during his first term – a 16 percent reduction compared to the previous administration.
- Reduced staff by 32 percent – from 190 in 2011 to 130 today.
- Requested a 100 percent cut in tax dollars needed to run his office for the next two years, saving taxpayers nearly $5 million.