In 1838, he moved to Miamisburg, Ohio, where he engaged five to fifteen journeymen to make boots and shoes.
In 1865, he was one of the founders of the private bank of H. Groby & Co., and a principal in the Miami Valley Paper Company, which he organized in 1871.
In 1875, Shultz was elected to the Ohio House of Representatives, serving one term but was not a candidate for re-election.
In 1880 after redistricting, Shultz again faced McMahon, but was narrowly elected to the Forty-seventh United States Congress from Ohio's 4th congressional district.
In 1882, he was redistricted back into the third district and was narrowly defeated by Democrat Robert Maynard Murray.