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Double-digit growth in new Texas business creations for first half of 2016

July 13, 2016
Contact: Alicia Pierce or Mari Bergman
512-463-5770

AUSTIN, TX –Today, Secretary of State Carlos Cascos released numbers showing double-digit growth for new Texas business creations for the first half of 2016 compared to the first half of 2015.  

“I am proud to announce that despite economic challenges facing the nation, the Texas economy remains resilient with continued double-digit growth in new business creations,” said Secretary Cascos. “This 10 percent increase demonstrates the confidence people have in our state as they seek new opportunities for success for their businesses.”

From January 1 through June 30, 2016, a total of 91,578 new business entities were created with the Texas Secretary of State’s office to form new for-profit corporations, professional corporations, professional associations, limited liability companies and limited partnerships. This represents a 10 percent increase from 2015 which saw the formation of 83,235 entities in the same time period.

Limited liability companies made up the vast majority of new business entity formations with 76,747 entities created during the first half of 2016. This reflects a 19.5 percent increase over 2015 which saw the formation of 64,221 limited liability companies during the same time period.

In June 2016, a total of 15,637 certificates of formation were filed with the Secretary of State to form new Texas for-profit corporations, professional corporations, professional associations, limited liability companies and limited partnerships. This represents a 4.57 percent increase from May 2016 new business formations and a 6.65 percent increase from June 2015 when a total of 14,661 new for-profit entities were created.

Statistics for non-profit entity formations are not included in these totals.

“Everything is bigger in Texas, and that includes the number of new businesses forming in the state,” said Secretary Cascos.

For more information about forming a business in Texas, visit the Business Filings section of this website or contact the Business and Public Filings Division at 512-463-5555.

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