Seven months into the massive federal stimulus program, the vast majority of government grants, contracts and loans in Michigan so far have created or retained virtually no jobs, a Free Press analysis shows.

The analysis also revealed that others who have been promised or have received stimulus money have overstated — in some cases greatly — the number of jobs created or protected…

The analysis also found:

• Three of every four stimulus grants, contracts and loans approved in Michigan created or retained one job or less.

• Fewer than 700 awards had received some money, and nearly half of those — 327 — had created one job or less, at a cost per job of $2.7 million.