ST. PAUL - Minnesota Secretary of State Mark Ritchie says the state will set a record in new business filings by the end of 2009.

The Secretary of State's office has averaged 5,400 new filings a month, which Ritchie says significantly outpaces the 2007 filing rate when the current record was set.

If current trends hold, the office will top 63,000 filings. That's a 15 percent increase over last year, and an improvement from the 2007 record of 55,782 filings.

Such filings are required of all Minnesota-based companies and those outside the state doing business here. Ritchie says the expected 2009 high-water mark is positive economic news.