Center for Economic Development
This presentation examines trends in federal assistance to Youngstown businesses through the Paycheck Protection Program (PPP) in 2020 and 2021. During this time, the Youngstown region received 13,061 PPP loans totaling $1 billion, reaching at least one small business in every Youngstown’s zip code. Most approved loans covered employees’ wages, helping to keep 130,170 workers on payroll during the Covid-19 pandemic. In 2021, PPP loans reached smaller businesses, with an average of 5 employees per business, compared to 17 employees in 2020.
Demko, Iryna and Figueroa,, Georgina Guadalupe, "Federal Assistance to Youngstown: Evidence from the Paycheck Protection Program" (2022). All Maxine Goodman Levin School of Urban Affairs Publications. 0 1 2 3 1766.