Businesses in one county of Michigan got $ 4.5 billion in P3s, 1,600 times more than another



Experts agree the paycheck protection program was a win for all of Michigan – but the biggest winners may have been Oakland County and the manufacturing industry.

The federal program has distributed $ 24 billion to Michigan small businesses through more than 300,000 forgivable loans. There were two rounds of P3 funding, so some places got two loans.

“It was a lifeline for so many businesses,” said Brian Calley, president of the Small Business Association of Michigan. “I really think (that was) the difference between surviving and not, for a lot of companies.”

The program is shut down, and MLive dove into the data to see where the money went in Michigan – geographically and by industry. Here are four takeaways.

Oakland County businesses received nearly $ 3,600 per capita

Businesses in Michigan’s 83 counties received P3 money, although some saw more than others.

Oakland County businesses received $ 4.5 billion, more than any other county in Michigan. That’s 1,600 times more than Keweenaw County businesses saw – $ 2.7 million.

Despite having the second largest population of any county in Michigan, Oakland County has consistently reported the most P3 money per capita. For each of Oakland’s 1.2 million residents, county businesses earned about $ 3,500 in P3 loans.

The lowest rate was Ontonagon County, getting $ 587 per person.

The map below shows how much PPP money the counties received per capita. While the Detroit and Grand Rapids areas did the best, some smaller counties also top the list. The darker the shade, the more money the county receives per capita.

(Can’t see the map? Click here.)

Hospitality suffered the most, but other industries got more PPP money

The hospitality industry relies on face-to-face interactions and discretionary spending – and has therefore been hit hardest by the pandemic.

As of February 2020, Michigan had 435,500 jobs in the recreation and hospitality industry. Two months later, it had fewer than 200,000 jobs, by federal data. No other major industry in Michigan has lost more than half of its jobs.

Yet the biggest loser was not the biggest beneficiary of PPP loans. Manufacturing companies got the most at $ 3.9 billion, construction was second at $ 2.4 billion, and health care and social assistance companies received $ 2.3 billion.

Accommodation and food services businesses received more than 18,000 loans totaling $ 1.6 billion.

The sortable database below shows how much money and how many loans businesses in each industry have received in Michigan. It also includes the number of jobs that have been retained as a result of the funding.

Can’t see the board? Click here

The PPP money wiped out all pandemic losses for many manufacturing and construction companies, Calley said, as most were back to work within weeks of the shutdown. Due to the dinner ban and stay-at-home order, the PPP money did not cover all of the losses of most hotel companies, he said.

Even in June, the hotel industry had only 79% of the jobs it held before the pandemic. Manufacturing was back to 92% and construction was above 99%.

The rural versus urban divide

Urban businesses won the majority of funds in Michigan, according to the Small Business Administration Data.

Businesses in urban areas received nearly $ 18 million, while rural businesses received about $ 6 million.

The difference was more pronounced for larger loans. For loans over $ 150,000, urban businesses received $ 3.10 for every dollar received by rural businesses. For loans less than $ 150,000, urban businesses received $ 2.57 for every dollar received by rural businesses.

Examples of urban areas include Wayne, Oakland, Macomb, Genesee, Washtenaw, Kent, and Kalamazoo counties.

Can’t see the graph? Click here

Which companies got the money?

The PPP allowed qualifying companies to get up to $ 10 million – and 21 Michigan companies got the maximum amount. Others received as little as $ 28.

Below is the full, sortable list of Michigan companies that have received PPP money. The first database is for loans of $ 150,000 and over, while the second is for loans of less than $ 150,000.

Can’t see the graph? Click here

Can’t see the graph? Click here


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