Increase in Idaho business filings hints at economic recovery

The Idaho StatesmanJuly 22, 2013 

An uptick in business filings with the Idaho Department of Finance suggests the economy is recovering from the Great Recession, though few of the filings originated in the state.

The department accepted more than 156,000 business filings, license and registration applications during the 2013 fiscal year, which ended June 30.  That was a 3 percent increase over fiscal 2012 and was the second-highest total in state history, according to the department.

Department Director Gavin Gee said the increase is a positive sign for Idaho and for the country. 95 percent of the filings originated from outside of Idaho, including filings from ever state and from 19 foreign countries.

"These numbers demonstrate that Idaho's economic recovery is gaining traction and that many financial service businesses outside the state want to do business in Idaho," Gee said in a prepared statement.

One improving segment of the financial world is the mortgage industry, where the total number of mortgage brokers and lenders increased for the first time in six years. The number of department-licensed mortgage loan originators increased 33 percent and 2,140 over fiscal 2012.

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