Secretary of State Paul Pate announces Iowans registered the second highest amount of new business entities in state history during the 2020 fiscal year. 24,481 new businesses registered with the Secretary of State’s Office between July 1, 2019 and June 30, 2020. The mark is just shy of the record high of 24,720, set in Fiscal Year 2019.
“This data shows that despite the pandemic, there was substantial economic activity in Iowa over the past 12 months,” Secretary Pate said. “I’m proud of the work my staff put in to help new businesses launch.”
Since mid-March, when the pandemic was beginning to significantly impact the state, 94 percent of new domestic businesses in Iowa were created using Fast Track Filing. The system implemented by Secretary Pate in 2018 greatly expedites the registration process, allowing same day service. The Secretary of State’s Office has added six new business filing types to the Fast Track system since March.