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     308  0 Kommentare JPMorgan Chase Commits $15 Million to Expand Economic Growth in Detroit’s Neighborhoods

    JPMorgan Chase has committed $15 million to support Detroit’s neighborhoods to help more Detroit residents benefit from the city’s continued economic recovery. As part of JPMorgan Chase’s $150 million, five-year commitment to Detroit, this new investment, which combines a $10 million, long-term, low-cost loan and $5 million in philanthropy, is expected to expand economic opportunity in these neighborhoods.

    These commitments will enable the Strategic Neighborhood Fund to finance critical neighborhood projects that lack access to traditional financing, help attract additional capital, and over time provide local residents with more access to affordable housing and goods and services where they live and work.

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    The announcement was made today at the Detroit School of Digital Technology in Southwest Detroit with senior JPMorgan Chase, community and government leaders.

    "With the help of partners like JPMorgan Chase, we are taking the successful strategies that worked in our Downtown and Midtown areas and scaling it to bring physical improvements and development to neighborhoods across our city,” said Detroit Mayor Mike Duggan. "We’ve got a lot more work to do and together, we’ll expand the good work being done to ensure more Detroiters are participating in the comeback."

    This new commitment is primarily targeted towards projects in commercial corridors across ten neighborhoods. These neighborhoods were selected because they are crucial to extending Detroit’s economic recovery to more residents, support local small businesses, and provide quality jobs.

    “There are so many clear signs of recovery across Detroit. The leadership of the Mayor and the strategic focus of so many partners has truly been the key to this progress,” said Peter Scher, Head of Corporate Responsibility, JPMorgan Chase. “We want this growth to benefit all Detroiters, especially those who have lived here their whole lives. That’s why we continue to invest our long-term capital in more neighborhoods.”

    A History of Sustainable Investments in Detroit

    JPMorgan Chase is combining its business and philanthropic expertise to address some of Detroit’s biggest economic challenges. In 2014, JPMorgan Chase helped launch two community development loan funds in Detroit -- the Detroit Neighborhoods Fund and Chase Invest Detroit Fund through two Community Development Financial Institutions (CDFIs)—Capital Impact Partners and Invest Detroit.

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    JPMorgan Chase Commits $15 Million to Expand Economic Growth in Detroit’s Neighborhoods JPMorgan Chase has committed $15 million to support Detroit’s neighborhoods to help more Detroit residents benefit from the city’s continued economic recovery. As part of JPMorgan Chase’s $150 million, five-year commitment to …

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