State officials are looking optimistically at the number of new entities that filed to do business in Ohio in 2012. It's the third year in a row the number of new business filings increased over the previous year.
More than 88 thousand 'new business filings' came in last year, compared to 2011, in which just over 82,601 new entities filed with the Secretary of State, Jon Husted.
"That is a good positive sign, because business formation is the foundation for job creation," says Husted. "And were seeing steady growth here in Ohio as we watch businesses grow, we see jobs created, we watch the unemployment fall, we see Ohio begin to do better in terms of income growth for the people of our state, revenue for our state and local governments and it creates a reason for optimism as we look into 2013."
Husted points to the oil and gas industry growth in the eastern and southeastern portions of the state as one of the factors fueling optimism for those who want to do business in Ohio.
"It is a welcome benefit that we have not had in Ohio for a number of years. It's something that essentially created a growing industry in the state that no one five years ago could have easily foreseen," says Husted.
Husted says the oil and gas industry growth has an uplifting effect on other business opportunities statewide, but new business filings still don't guarantee a company will begin operations, be profitable or even create jobs. They are merely another positive indicator that things are moving in the right direction.