 | | | Roadmap for Local Impact Smart Brevity® count: 4 mins...1090 words Today we're touring communities across the globe where JPMorgan Chase is expanding economic opportunity by investing in the future of local economies. Here's a glimpse of the impact we're making together. |
| 1. Detroit: A decade of lessons from a remarkable comeback  For 90 years, JPMorgan Chase has helped make lasting impact for Detroiters. We learned ten years ago during an early conversation with Mayor Mike Duggan that a bankrupt Detroit couldn't recover unless its neighborhoods also did so. So we worked with local Community Development Financial Institutions (CDFIs) to make targeted investments in neighborhoods poised for growth, where the CDFIs could do the most to address urban blight and help rebuild the cratered housing market. -
Then we supported the solution — helping Invest Detroit to launch Strategic Neighborhood Fund (SNF) to connect community developers with private, philanthropic and public capital. -
Invest Detroit's SNF is now helping stabilize 10 distressed neighborhoods through an innovative urban planning model that gives residents what they need within a 20-minute walk or bike ride. Our commitment to Detroit has now grown to $200 million, and the city has shown signs of progress since it filed for bankruptcy: -
The city reduced vacant housing by nearly 20% from 2013 to 2021. -
The median owner-occupied home value rose to $69,300 in 2021, up more than 88% since 2013. -
JPMorgan Chase created or preserved than 5,000 affordable housing units as of 2023. A local leader's POV: "This partnership is a testament to how business, community and government can together drive long-term growth," says Mayor Mike Duggan. It "laid the groundwork for others who have invested in Detroit since." See all our lessons learned over the decade from our Detroit playbook. |
| 2. Greater Paris: Helping drive economic opportunity for underserved residents  Through our work in Detroit we created a model for local collaboration and community investment, and applied those lessons to our five-year, $30M philanthropic commitment to Greater Paris, where we've been serving clients and communities for more than 150 years. What we learned: 1.5 million Greater Paris residents are living in poverty, with the divide particularly acute in the region of Seine-Saint-Denis (SSD). What we did: We collaborated with non-profit organizations to align our goals to local needs and public and private investments — helping connect underserved communities to employment and business growth opportunities. Our work in action: One non-profit we're proud to support is Sport dans la Ville, which uses sport as a lever to connect disadvantaged young people with career readiness programs. -
Our support helped them access further public and private funding heading into the 2024 Olympic and Paralympic Games in Paris — and reach more than 1,300 young people. -
From coaching and workshops to networking and job experiences, Sport dans la Ville is setting up young people for lasting career success with employers in high-demand sectors. Moving forward: We're using insights and lessons from our investments over the last five years to sharpen our approach and scale what works. -
We're now expanding our support with $70 million in new business and philanthropic commitments to connect more people to economic opportunities across France. -
This includes launching a new business initiative aimed at providing capital to gender diverse private investment firms and funds investing in strategies that are positively impacting society and communities. Go deeper: Our latest white paper shares what we've learned from our 5-year investment in Greater Paris' Economic growth. |
| 3. Greater Washington, D.C.: Investing in the local workforce  We're building on our more than 100-years of providing services to the Greater Washington D.C. region — investing in neighborhoods from Baltimore, MD, to Richmond, VA. -
In Baltimore, we're creating new employment opportunities — our new virtual call center now has 40 full-time, home-based roles and provides opportunities for career advancement, financial wellness and tuition assistance for local residents from underserved neighborhoods. -
In Washington D.C., we're supporting job creators — our latest $3.5 million commitment is helping the Congress Heights Community Training and Development Corporation launch a small-business incubator. And we're expanding our support to non-profit organizations to help Greater Washington students help meet the region's growing demand for talent. -
What's next: Through a $5.3 million philanthropic commitment, we are expanding our support of The Greater Washington Partnership and Education Strategy Group with a focus on ensuring students get work-based learning experience such as capstone projects and internships. -
What they're saying: "By fostering partnerships between our top ranked education institutions and Virginia's most critical employers, we are preparing our young people to graduate workforce and college ready." said Virginia Governor Glenn Youngkin. |
| 4. Dallas-Fort Worth: Big impacts for small businesses  Ezra Coffee's self-made founder and CEO, Jessica Taylor. Companies with fewer than 100 employees are the heart of the Dallas Fort-Worth region's economy, accounting for 75% of employers — so we focus on advancing initiatives that empower entrepreneurs across the region. -
The latest: Our inaugural Make Your Move Summit in Frisco, TX brought together thousands of small business owners, industry experts and others for three days of roundtables, breakouts and networking. Zoom out: We serve 240K small business customers across the region, more than 690K across the state, and serve 6 million small businesses across the US. A few examples of how we meet their needs beyond banking: -
Offering pop-up trainings, as we did at our new Oak Cliff Community Center branch to give local entrepreneurs tools to start, run and grow a business. -
Providing a $1 million commitment to the Dallas Entrepreneur Center to help strengthen local small businesses and foster inclusive growth for underrepresented business owners. -
Supporting minority-owned small businesses, such as Ezra Coffee — founded and led by self-made CEO Jessica Taylor. What's next: We plan to hire 1,000 new business bankers in local markets across the United States to support small business owners and entrepreneurs — serving up more of what's working. |
| Our reach is global, our impact is local. Learn more about other markets where we're driving economic impact, like New York City. Closing thought from Tim Berry, Global Head of Corporate Responsibility and Chairman of the Mid-Atlantic Region, JPMorgan Chase: ""The path to powering our communities and unlocking economic opportunity for everyone starts at the local level. Working alongside local partners in the non-profit, education and business communities, and with engagement from regional leaders?we can create a system that helps?and supports a thriving economy." | | | |  | |
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