JPMorgan Chase & Co. is marking its 90th anniversary of service in Detroit and the 10th anniversary of its commitment to support the city's economic recovery. The bank has pledged over $200 million to aid in the revitalization of Detroit, with a particular focus on skills training and job creation.

Since Detroit filed for Chapter 9 bankruptcy in 2013, JPMorgan Chase has been a major presence in the city's banking landscape, using its size and business expertise to contribute to its progress. The bank's commitment has yielded significant impacts, including the placement of over 72,000 Detroit residents in apprenticeships or jobs and support for nearly 17,000 individuals in job training programs. Additionally, over 13,000 small businesses have received assistance through JPMorgan Chase's efforts.

In a press release, JPMorgan Chase stated, "While there is more work ahead, Detroit’s economy has made meaningful progress over the last ten years." The bank's commitment has also led to the creation and preservation of 5,000 affordable housing units and improved the financial health of more than 15,000 Detroiters.

Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase, emphasized the positive outcomes of the bank's investment, stating, "Looking back, we see the returns on our investment in the strength of our customers and communities ― their ability to build wealth, create lasting careers, plan for their financial futures and achieve their dreams. We also see the returns in the form of a stronger local economy and people working together. Today, it’s clear that a stronger Detroit is good for business, too."

Detroit Mayor Mike Duggan expressed gratitude for JPMorgan Chase's partnership and its role in the city's progress. He said, "One of the first phone calls I received as Mayor of Detroit was from Jamie Dimon, who said he wanted to make a significant investment in Detroit and Detroiters. Since that day, JPMorgan Chase has been our partner and a catalyst for much of the progress our city has made over the past 10 years. Their investment really laid the groundwork for others who have invested in Detroit since."

As JPMorgan Chase commemorates its 90 years of service in Detroit, it reaffirms its commitment to supporting the city's ongoing economic recovery. The bank's partnership with local community organizations has been instrumental in driving positive change and creating opportunities for Detroit residents.