COLUMBUS—Senate President Larry Obhof (R-Medina) highlighted a report published by Secretary of State Jon Husted's office today showing that 2016 was the seventh consecutive record-breaking year for the number of new entities filing to do business in the state of Ohio.

Last year, 105,009 new businesses were formed, surpassing the previous year's record of 97,746. Since 2010, the annual number of new business formations with the state has increased by more than 30 percent.

"Our future is about innovating. It’s about improving. It’s about transforming. Ohio is becoming a premier state for entrepreneurs to start and expand their businesses. We must continue to build on this momentum by pursuing further improvements to our state's business climate," said Obhof.

In 2015, Senator Obhof sponsored Senate Bill 26 and co-sponsored House Bill 3, which cut the filing fees for starting a new business or non-profit entity by more than 20 percent. Ohio is now the least expensive state to start and maintain a business in the Midwest.

Ranked 11th in the nation on Forbes' Best States for Business 2016, Ohio has climbed 27 spots since 2011. Private sector employers have created more than 430,000 new jobs during that span.

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