The mortgage business hit a dizzying peak in 2021. And Crain’s Fast 50 list of fastest-growing businesses reflects that.
One-two on the list are metro Detroit’s mortgage giants, Rocket Companies Inc. and UWM Holdings Corp. Some other financial-services companies on the list, including Flagstar Bancorp, also specialize in mortgages.
But that’s not the only industry that’s boomed.
Perhaps most striking is the number of construction companies on this year’s list — seven of the 50. They’ve been helped by commercial construction, not least when it comes to the automotive industry’s massive investment in plants to produce electric vehicles.
A word on how we calculate this list, which in some ways differs from similar lists that look purely at a percentage revenue increase:
Our list takes that into account, but we also rank the companies for which we have data by the dollar amount of their revenue increase. This is because in our estimation, scale matters, and driving big sales increases at a large, established company is no easy feat.
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Source: Fastest-growing companies in metro Detroit for 2022 list | Crain’s Detroit Business
