COLUMBUS– Ohio Secretary of State Jon Husted today announced 8,800 new entities filed to do business in Ohio throughout the month of July, an increase of 1,279 when compared to the same month in 2016.
So far, 71,979 new entities have filed to do business in Ohio this year. 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 July 2017, the Secretary of State’s Office has processed over 274,196 online filings.
June 2017 marked 21 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 $4.5 million to date.
Secretary Husted’s efforts to cut costs don’t stop there. In fact, his request for a 100 percent cut in the amount of tax dollars needed to run his office was recently approved in the state’s budget. Husted’s request will save taxpayers nearly $5 million in the next two years. Secretary Husted was able to do this because of his wise financial stewardship. During his first term, he reduced spending by $14.5 million, a 16 percent reduction when compared to the previous administration. Secretary Husted is also operating his office with nearly 40 percent fewer staff and payroll costs at the Secretary of State’s Office are at the lowest level in 10 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 (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:
- 8,800 new entities filed to do business in Ohio throughout July 2017.
- 1,279 more entities filed in July 2017 than during the same month in 2016.
- Since Ohio Business Central was launched, over 274,196 entities have been formed online through July 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 $4.5 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 40 percent and decreased payroll costs to the lowest level in 10 years.
- Requested and was approved of a 100 percent cut in tax dollars needed to run his office for the next two years, saving taxpayers nearly $5 million.