JPMorgan Chase is set to invest $24 million in Philadelphia’s shipbuilding and maritime manufacturing sector. This investment will consist of $18 million in loans and $6 million in philanthropic grants. The funding aims to create 450 new permanent jobs at a new submarine manufacturing facility owned by Rhoads Industries. Additionally, it will support workforce training and assist local maritime small business suppliers.
Jamie Dimon, chairman and CEO of JPMorgan Chase, emphasized the importance of skilled workers and secure supply chains in revitalizing the shipbuilding industry. He stated that training individuals for the necessary jobs and connecting them to good careers will strengthen the maritime sector, which is crucial for both national security and economic stability.
