The leader of the largest bank in the U.S. visited Stanislaus County on Tuesady to talk economic development with local business and community leaders.
Jamie Dimon, chairman and CEO of JPMorgan Chase, met with officials from Stanislaus County, Stanislaus Community Foundation, Stanislaus 2030 and BEAM Circular as part of a California bus tour.
The tour is meant to provide Dimon and the bank’s senior leaders with an opportunity to hear directly from commmunity leaders and others about local priorities that support long-term economic growth, according to a Stanislaus Community Foundation news release.
The local visit follows a commitment by JP Morgan Chase to invest $200 million in funding for a 342-unit waterfront housing project in San Francisco, not far from Chase Center, The San Francisco Chronicle reported.
The firm has also committed $750 billion through 2035 to increase the nation’s housing supply, which includes financing for 1 million affordable housing units, according to the Chronicle.
During the Stanislaus County visit, local officials informed Dimon and his team about Stanislaus 2030, BEAM Circular and local efforts to build the labor market.
Some of that work has included the launch of 129 new childcare businesses, helping local suppliers win $8.7 million in new contracts, investing in 32 businesses working to turn local agricultural waste into valuable bio-based products, and launching new biomanufacturing training and workforce programs that will serve over 15,000 students and workers over the coming four years, the release said.
“Stanislaus 2030 exists because this community decided to build its own solutions instead of waiting to be discovered,” said Amanda Hughes, executive director of Stanislaus 2030, said in the release.
“We’ve spent the last three years turning a blueprint into a real pipeline — growing small businesses, advancing job training, and increasing childcare capacity. We’re proud of our story and welcomed the opportunity to share it with Jamie and his team.”
“We didn’t wait for outside investment to organize ourselves — we organized ourselves to be ready for outside investment,” said Marian Kaanon, President and CEO of Stanislaus Community Foundation.
“For years, communities like ours have been told our best ideas leave and don’t come back. We appreciate Jamie and the team coming to visit and learn more.”
Earlier this week, stock market research publiction Motley Fool reported JPMorgan Chase just had a record quarter, as revenue increased 27% year over year to a record $58 billion, and net income rose 41% to $21 billion.
Editor’s Note: Stanislaus Community Foundation is a funder of The Modesto Focus.