March 22, 2004

LLC Data Project Update #6: Nebraska

In response to my initial email asking for historical data on business formation in Nebraska, Rod Armstrong, general manager of Nebraska's websites, created and posted a chart with data back to 1998. Formation of limited liability companies - a preferred business structure for small businesses and entrepreneurial start-ups - set a record in Nebraska in 2003, making Nebraska the 17th out of 20 states for which the data shows a record was set in 2003 for LLC creation.

According to the data posted on the Nebraska Secretary of State's office website, entrepreneurs formed 3,000 LLCs in Nebraska in 2003, up 34 percent over 2002, and up 94 percent over 1999, the peak year nationally of the Clinton-era economic boom. Additional data also posted on the same website show the number of "active" LLCs in Nebraska reached 13,980 last year, up 26 percent of 2002 and up 284 percent since 1999.

Overall, I have now gathered data on LLC formation from 20 states. Seventeen of them set records for LLC creation in 2003 - Alaska, Florida, Hawaii, Idaho, Illinois, Minnesota, New Hampshire, New York, Nebraska, North Dakota, Oregon, Pennsylvania, Rhode Island, Tennessee, Virginia, Washington Wisconsin. Utah set a record in 2002 and then declined slightly in 2003. Nevada and Kentucky set records set in 2002 and may have in 2003 - I have not been able to gather complete data for those states for 2003. I continue to seek data from the remaining 30 states.

Who said blogs don't do original journalism?

Thanks to Rod Armstrong of Nebraska Online for taking the time to collect and post the data - his counterparts in some other states have not been as helpful.