More Corporations Being Formed In Mass.

Secretary of State William Galvin says a spike in corporation filings could be a sign that the Massachusetts economy is bouncing back.

Figures released by Galvin's office on Tuesday showed there were 14,747 new corporation filings during the last six months. That was a better than 4 percent increase over the same six-month period in 2009-2010.

"Most jobs are initially at least created by smaller corporations and we think that these small start-ups, as we see them, would be an indication of enhanced economic activity here in Massachusetts," Galvin said.

Galvin says the total number of businesses registered in the state is also on the rise.

Meanwhile, the state Office of Administration and Finance has announced that Standard & Poor's has boosted its credit outlook on Massachusetts bonds to positive from stable. The state's general obligation bond rating remains at AA, where it has been since 2007, but officials say the improved credit outlook could signal a bond rating increase sometime in the future.

This program aired on February 8, 2011. The audio for this program is not available.


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