Expanding U.S. shipbuilding capacity—starting in Philadelphia

A firmwide approach supporting skills, supply chains and small business growth

View Online Nearly $24 million in new funding from JPMorganChase will help strengthen Philadelphia’s shipbuilding and maritime industry—advancing workforce training, small business growth and more resilient supply chains.   What happened: During a visit to the Philadelphia Navy Yard, JPMorganChase announced a new firmwide initiative that is expected to help: Create 450 permanent jobs by driving the expansion of a submarine manufacturing and assembly facility. Scale training for 300 individuals and expand apprenticeship pathways. Support up to 100 local maritime small business suppliers. Build a stronger regional collaborative that connects employers, training providers, and community partners to meet the demand for skilled talent. This initiative connects two firmwide efforts: the American Dream Initiative (ADI) and the Security and Resiliency Initiative (SRI), supporting industries critical to the U.S. economy and national security while expanding opportunity for more Americans.    Learn more Why it matters: U.S. shipbuilding is both an economic opportunity and a resilience imperative.  Research from J.P. Morgan’s Industry and Policy Thematics team underscores both the opportunity and the urgency of the challenge: less than 1% of new commercial ships are built in the U.S.  A recent report by the JPMorganChase Policy Center and Center for Geopolitics highlights the need for more talent, estimating demand for 250,000 new skilled shipbuilding workers over the next decade.  "America can compete and lead in shipbuilding again —it starts with more skilled workers and secure supply chains," said Jamie Dimon, Chairman and CEO of JPMorganChase. "We need to train people for the jobs shipbuilders urgently need, connect them to good careers and strengthen the suppliers and partners that keep a shipyard running. When we build the workforce and the supply chain together, we create good careers for workers and a stronger, more resilient maritime industry that supports our national security and our economy."  Bottom Line: The firm is translating local investments into national impact by combining business resources and expertise, philanthropy, research, partnerships and capital to help drive economic opportunity, support resilient communities and advance American industry. For more information on JPMorganChase's efforts, visit JPMorganChase.com/impact  Subscribe now to receive future emails and other updates.  To unsubscribe, please click here.  © 2026 JPMorgan Chase & Co. | 270 Park Avenue, New York, New York JPMorganChase is not responsible for the information contained on third-party websites, nor do we guarantee their accuracy and completeness.