Today is your first chance to see the entire July 2020 issue of Site Selection, complete with our supporting advertisers, in our Digital Edition facsimile of the print magazine. Like the companies whose investments we document around the world, Site Selection turned on a dime this spring to produce what’s most needed: helpful business intelligence about pandemic impact, response and recovery. We also take a stand against racism in America. The issue also offers industry reports on innovation hubs, data centers and aerospace; spotlights on Louisiana, Oklahoma and Arkansas; the Northeast Ohio Intelligence Report; and insights from IAMC.
As data spills out from the U.S. government about where all that Paycheck Protection Program money is going, the U.S. Small Business Administration shared its own analysis broken out by state and by industrial sector. Below is a list of the top 10 sectors receiving PPP support, and our exclusive analysis breaking out the Top 10 states in per-capita loans and per-capita loan dollars. Colorado has the largest population among the per-capita leaders in number of loans. — Adam Bruns and Daniel Boyer
Top States by PPP Loan Dollars Per Million Inhabitants
State
Loan Count
Net Dollars
Population(millions)
Loans Per Million Pop.
Loan Dollars Per Million Pop.
DC
11,553
$2,111,474,209
0.672228
17,186.13
$3,141,009,016.29
ND
19,183
$1,754,925,373
0.760077
25,238.23
$2,308,878,407.06
MA
107,431
$14,151,110,970
6.902149
15,564.86
$2,050,247,099.85
MN
93,533
$11,086,134,591
5.611179
16,669.05
$1,975,722,854.50
NY
297,775
$37,548,994,774
19.542209
15,237.53
$1,921,430,416.29
NJ
136,869
$16,898,328,549
8.90852
15,363.83
$1,896,872,718.36
VT
11,361
$1,173,838,271
0.626299
18,139.90
$1,874,245,801.13
SD
21,533
$1,647,772,605
0.882235
24,407.33
$1,867,725,271.61
NH
22,785
$2,519,389,497
1.356458
16,797.42
$1,857,329,528.08
CT
57,267
$6,606,171,723
3.572665
16,029.21
$1,849,087,928.20
Top States by Number of Loans Per Million Inhabitants
State
Loan Count
Net Dollars
Population(millions)
Loans Per Million Pop.
Dollars Per Million Pop.
ND
19,183
$1,754,925,373
0.760077
25,238.23
$2,308,878,407.06
SD
21,533
$1,647,772,605
0.882235
24,407.33
$1,867,725,271.61
WY
12,895
$1,021,036,842
0.577737
22,319.84
$1,767,303,880.49
NE
40,963
$3,400,263,865
1.929268
21,232.41
$1,762,463,206.25
MT
22,399
$1,746,953,456
1.062305
21,085.28
$1,644,493,300.89
ME
26,128
$2,212,903,128
1.338404
19,521.76
$1,653,389,505.71
VT
11,361
$1,173,838,271
0.626299
18,139.90
$1,874,245,801.13
IA
55,954
$5,025,766,026
3.156145
17,728.59
$1,592,374,883.28
CO
99,807
$10,234,368,111
5.695564
17,523.64
$1,796,901,608.16
KS
50,103
$4,944,008,523
2.911505
17,208.63
$1,698,093,777.27
Top 10 Sectors Receiving PPP Loans
NAICS Sector Description
Loan
Count
Net Dollars
% of
Amount
Health Care and Social Assistance
479,650
$66,292,313,990
12.94%
Professional, Scientific, and Technical Services
595,293
$65,309,212,473
12.75%
Construction
438,921
$63,649,725,461
12.42%
Manufacturing
221,051
$53,513,293,921
10.45%
Accommodation and Food Services
347,553
$41,177,730,603
8.04%
Retail Trade
425,701
$39,729,580,053
7.76%
Other Services (except Public Administration)
484,161
$30,198,840,159
5.90%
Wholesale Trade
159,639
$27,417,933,285
5.35%
Administrative and Support and Waste Management and Remediation Services
226,726
$26,050,426,337
5.09%
Transportation and Warehousing
161,794
$16,386,158,203
3.20%
CANADA’S BEST LOCATIONS
It’s just around the corner: Site Selection’s September issue will highlight the top 20 utilities in economic development. If you’re part of a utility economic development team that hasn’t yet filled out our annual questionnaire, you have until Friday, July 10, to get it done.
Site Selection Magazine will publish the annual Canada’s Best Locations rankings in our September issue. If you’re affiliated with a Canadian economic development organization, send us capital investment and job creation data from private-sector facility construction and expansion projects by Friday, July 24, to supplement our own data that helps us determine the winners of Site Selection’s province-level Competitiveness Award and metro-area Top Canadian Economic Development Groups awards. Those honors, based on April 1, 2019 – March 31, 2020, project data, will be announced in the September 2020 issue of Site Selection, and news of the awards will be widely distributed to general media.
California-based early cancer detection startup GRAIL, identified in Site Selection’s May 2020 feature on health tech as the most well-funded U.S. digital health startup, decided in June to use some of that cash. The company will invest $100 million and aim to create 398 jobs at a new lab, office and warehouse complex in Research Triangle Park. A Job Development Investment Grant (JDIG) agreement authorizes the potential reimbursement to the company of up to $5.2 million over 12 years if job and investment targets are met. In addition to its HQ in Menlo Park, California, GRAIL also maintains locations in Washington, D.C., and the UK. “We want to thank Governor [Roy] Cooper, Secretary of Commerce Anthony Copeland, and our local Durham partners for their leadership and support of GRAIL’s expansion to North Carolina, known for its large pool of skilled talent and innovative spirit that is critical to the success of our mission to detect cancer early and save lives,” said Uplaksh Kumar, the company’s senior vice president of strategic operations and scale.
Ontario, Canada–based cancer treatment therapy firm POINT Biopharma announced in May it would establish its first U.S. manufacturing facility in Indianapolis, in a food-grade building it will transform into a Good Manufacturing Practices (GMP) facility that will allow POINT to expand its drug manufacturing operations, with plans to annually produce and distribute more than 400,000 doses. The company expects to move into its new space this year and to be fully operational by 2021. “We are pleased to establish our next-generation, high-tech manufacturing base in Indiana, a state with a robust talent pool, a rich life science ecosystem, and an excellent business-friendly environment,” said Dr. Joe McCann, CEO of POINT Biopharma. “By locating in the Crossroads of America, POINT will deliver our products to patients from coast to coast within hours of production, making a meaningful difference in patients’ lives.”
At 244 acres, The Railyards is the largest infill downtown development in the west. Plans for the project will model a modern urban lifestyle, including proximity to transit, work, recreation and entertainment. The development will be anchored by a $300 million,18,000-seat Major League Soccer stadium. The dynamic, mixed-use environment will also include up to 5 million square feet of office, approximately 700,000 square feet of retail, a state-of-the-art mass transit hub, housing and cultural amenities. When complete, the development will add 7 million square feet and 10,000 residents to downtown Sacramento, effectively doubling the urban core.
This site represents a unique opportunity for major employers to establish an iconic presence in downtown Sacramento. Future tenants will benefit from exposure to over 1.1 million annual visitors to Sacramento’s Amtrak station (which is projected to increase to over 15 million by 2030) and Interstate 5, which generates 194,000 daily vehicle trips.
Conway President and CEO and Site Selection Publisher Adam Jones-Kelley appears with Conway Staff Photographer Carmyn Suzor in this photo taken this week with
the EFCA (External Football Club Academy) soccer team, an underprivileged youth team Conway sponsors in Dar Es Salaam, Tanzania. The team has named Conway Executive Vice President, collegiate soccer player and lifelong soccer fan Ron Starner as their honorary coach. Their new uniforms will be Conway blue and feature Starner’s signature.
