U.S. Cities Will Be Able to Compete for Funding From JPMorgan

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JPMorgan Chase & Co. plans to unveil a $500 million project Wednesday geared toward boosting economic growth in as many as 30 cities across the U.S.

The five-year initiative, “AdvancingCities,” includes a competition for funding. JPMorgan plans to invest, through public-private partnerships, in places where it can address employment barriers, financial insecurity and neighborhood disinvestment, said Peter Scher, head of corporate responsibility for the New York-based bank. Its request for proposals, going live Wednesday,…

2018-09-12 04:01:00

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