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JPMorgan Chase on Tuesday announced career readiness grants for five U.S. cities as part of its recently announced $30 billion commitment over five years to help advance racial equity and drive an "inclusive economic recovery."
The $35 million in new grants, which are aimed at Boston; Columbus, Ohio; Dallas; Indianapolis; and Nashville, Tenn., follow a February announcement of a $7 million commitment to Denver. The next four cities, which will round out the $75 million in grants, will be located outside the U.S.
The five-year career readiness project will seek to better prepare young people for the jobs of today and tomorrow, the company said. It will develop equitable pathways and policy recommendations to give underserved students access to higher education and real-world work experience that could lead to high-wage, in-demand jobs.
With its announcement earlier this month of the $30 billion to advance racial equity, JP Morgan Chase described goals with an ambition that matches the size of the commitment.
That effort seeks to reach across business, policy and philanthropy to provide economic opportunity to underserved communities, with a particular focus on Black and Latinx people.
“Too many young people -- especially in Black and Latinx communities -- are left behind without the education, skills and experience needed to get good jobs,” Jamie Dimon, chairman and CEO of JPMorgan Chase, said this week in a written statement. “At this critical time -- as we all work to address systemic racism and inequities -- it’s necessary for business, government and communities to come together and help young people have equitable access to economic opportunity.”
