JPMorgan Chase’s Investment in Detroit to Reach $150 Million
JPMorgan Chase & Co. today announced that it will expand the firm's commitment to Detroit’s economic recovery, expecting to reach $150 million by 2019. The announcement comes as the firm exceeded its initial $100 million, five-year investment two years ahead of schedule. The firm has been able to accelerate its investment to support Detroit’s recovery due to strong collaboration between civic, business, and nonprofit leadership, as well as improving economic conditions in the city.
"Detroit’s resurgence is a model for what can be accomplished when leaders work together to create economic growth and opportunity,” said Jamie Dimon, Chairman and CEO, JPMorgan Chase. “This collaboration allowed us to speed up our investment and extend our commitment over the next two years. Going forward, I hope business, government and nonprofit leaders will see Detroit’s comeback as a shining example of how to put aside differences and work to find meaningful and innovative solutions to our most pressing economic problems.” . . .