Banking giant JPMorgan Chase announced an ambitious, decades-long plan to help bolster critical U.S. industries and support national security.
Known as the “Security and Resiliency Initiative,” the program will direct $1.5 trillion toward initiatives that support energy, manufacturing, and defense. As part of the plan, JPMorgan will invest upwards of $10 billion in direct equity and venture capital in American companies.
“It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing – all of which are essential for our national security,” JPMorgan Chase’s outspoken CEO Jamie Dimon said in a statement, per Fox Business.
“Our security is predicated on the strength and resiliency of America’s economy. America needs more speed and investment. It also needs to remove obstacles that stand in the way: excessive regulations, bureaucratic delay, partisan gridlock and an education system not aligned to the skills we need,” Dimon continued.
The program will focus on four key sectors: supply chain and advanced manufacturing, defense and aerospace, energy independence, and resilience, frontier, and strategic technologies. These areas are further divided into 27 subcategories, including nuclear energy and cybersecurity.
“This new initiative includes efforts like ensuring reliable access to life-saving medicines and critical minerals, defending our nation, building energy systems to meet AI-driven demand and advancing technologies like semiconductors and data centers. Our support of clients in these industries remains unwavering,” said Dimon.
JPMorgan Chase also plans to advocate for policies that accelerate these efforts and conduct research on companies facing supply chain challenges tied to artificial intelligence, advanced technology, and rare earths.
The announcement comes days after China tightened restrictions on rare earth exports — a move that threatens several critical American industries.
Earlier this year, The Dallas Express reported that JPMorgan plans to anchor a new mixed-use development in Fort Worth, being constructed by Crescent Real Estate. The financial services company will occupy three floors and nearly double its current headcount to roughly 300 employees.