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State

Iowa breaks record for new business filings in a single month, again

DES MOINES – Secretary of State Paul Pate announced Iowans set a record for most new business filings in a single month, for the second month in a row. During May, Pate’s Business Services Division processed 2,512 new business ventures. The previous high, set in April, was 2,326.

“This is a very positive economic indicator for Iowa,” Pate said. “It shows entrepreneurs have income available and they are investing it in business ventures. That hopefully translates into even more jobs in a state with one of the lowest unemployment rates in the nation.”

Iowa is also on pace to shatter the record for new business filings in a year, for the fourth consecutive fiscal year.

“We have seen a flurry of activity in our office,” Pate said. “My Business Services Division handled more than 25,000 calls in the first five months of this year, and we’re processing new business filings faster than ever before.”

The implementation of Fast Track Filing by Pate in 2018 allows new businesses to register with the state within a few minutes.

Prior to this year, the one-month record for most new businesses created in a single month was 2,204, set in March 2018.

A graphic detailing the types of new business filings in May is available at s3.amazonaws.com/socialmedia.sos.iowa.gov/photos/May2019Filings.png.

A list of active business entities in the state of Iowa is available at data.iowa.gov/Regulation/Active-Iowa-Business-Entities/ez5t-3qay.

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