State Senator Larry Obhof (R-Medina) joined Ohio Secretary of State Jon Husted and others today to announce two major initiatives.
The first is a 21 percent cut in new business filing fees that takes effect today. The second is a partnership between the Secretary of State’s office and Google, which will help new businesses get off the ground and achieve success in Ohio.
Senator Obhof co-sponsored the reduction in the business filing fee, which is the first reduction of its kind in modern Ohio history.
"This is about creating a better economic environment here in Ohio," said Obhof. "I'm proud to play a part in these initiatives that will help spur new business growth and encourage employers to locate and expand in our state.”
The fee reductions will apply to a wide range of new businesses, including limited liability companies, partnerships, and both for-profit and non-profit corporations. Accounting for both initial fees and annual renewal fees, over a five-year period Ohio would be the most affordable place to start a limited liability company, as compared to neighboring states.
The partnership between Husted's office and Google will provide Ohio business owners access to free online tools to strengthen new startups. The resources will ensure that business owners can remain innovative while receiving the support necessary when starting a new business.
The new initiatives build on the success of prior efforts to modernize the Secretary of State’s office and make it easier for businesses to incorporate in Ohio. In 2013 the office launched "Ohio Business Central," which allows businesses to file many of the necessary forms online. The state’s response time on business applications has been reduced from four days or more to fewer than twenty-four hours in most cases.
“This year, Ohio is on pace to have the most new business filings in state history,” Obhof said. “We are doing what we can to make that process as efficient as possible.”