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Business formation in Ohio on the rise

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Although the recession has not been declared officially over, it seems that the economy in Ohio is on the mend. According to a report for the Columbus Dispatch, the state is “growing a crop of new businesses.”
Ohio Secretary of State Jennifer Brunner told the source that business formation filings have increased in each of the first three months of 2010. She says rising business activity forebodes good things for the Buckeye State.

Jim Coons, president of Columbus’ J.W. Coons Financial Advisors, says this indicates the local economy is improving. He believes these filings indicate that the “recession has run its course” for the nation’s 7th most populous state.

The new business filings include initial-formation documents for domestic or out-of-state corporations, limited liability companies, partnerships, limited partnerships, and name registrations, according to Brunner. A number of the Ohio-based startups are focusing on clean energy production.

While Ohio boasts ample fields for wind turbines and other clean energy tools, entrepreneurs across the country may be interested in clean tech startups. According to the Clean Tech Group, clean technology venture investments for the first quarter of 2010 have increased 29 percent over the previous quarter and 83 percent over the first quarter of 2009.