We’re excited to share that JPMorgan Chase has decided to invest $4 million toward the effort revitalize Wilmington’s economically-troubled areas. The investment will be used to help our lower income communities with affordable housing development, access to healthy foods and proper healthcare facilities, as well as small business development.
“We’re very proud to make this investment in Wilmington, a community that’s so important to JPMorgan Chase,” said Tom Horne, JPMorgan Chase market director for Delaware. “This city has been making meaningful progress but we know there’s still a lot of work to be done. We want to show up in a big way to help address the challenges and we’re excited about the great work that this collaborative will do.”
The money will be used by an organization called Equitable Wilmington, who pledge the following:
- Preserve or rehab over 100 affordable housing units.
- Provide 48 small business loans totaling $1 million.
- Develop community facilities that create assets and resources for the community
As a strategic hub for JPMorgan Chase, the company wants to give back to the community in which it works.
“We’re more excited to see what this organization, and how the funds will be used to impact the citizens and residents of the City of Wilmington,” said Tom Horne, JPMorgan Chase Market Director for Delaware
Governor John Carney called the investment remarkable.
“Four million dollars is going to be a big shot in the arm,” he said.
He also pointed to state level investments that will complement this work.
“We have a strong neighborhood commitment and program with over $5 million, we have $25 million of transportation improvements that are happening in our city; the biggest investment is what we’re doing in the Christina School District, rehabilitating and doing a better job in our schools.”