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Columbus is the capital and the largest city of the U.S. state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. The city has a diverse economy based on education, insurance, healthcare, retail, and technology. Acknowledged by Money Magazine as the 8th best large city in the U.S. to inhabit, it is also recognized as an emerging global city. Residents of Columbus are usually referred to as Columbusites.