Utility System Construction

Businesses and organizations in the Utility System Construction industry (NAICS code 2371, part of the Construction sector) received 16,562 PPP loans totaling $4.04B during the COVID-19 pandemic.

The average loan for this industry was $243,946 — above the national PPP average of approximately $67,000. This reflects the relatively large size of many businesses in this sector, which tend to have higher payroll costs and more employees.

95.2% of loans in this industry were forgiven — totaling $3.97B. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include US TRINITY ENERGY LABOR SERVICES LLC of ARGYLE, TX ($10,000,000); ENERVEST OPERATING, LLC of HOUSTON, TX ($10,000,000); and CULBERSON CONSTRUCTION, LLC of GRANBURY, TX ($10,000,000).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Construction sector — building construction, heavy and civil engineering construction, and specialty trade contractors. — businesses in NAICS 2371 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.