Columbus is the capital, the largest, and the most populous city of the U.S. state of Ohio. Located near the geographic center of the state, Columbus is the county seat of Franklin County, although parts of the city also extend into Delaware and Fairfield counties. 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 (it is home to Ohio State University, the largest university in the United States), insurance, healthcare (because of the presence of the Ohio State University College of Medicine), 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.