JPMorgan unveils $1.5T ‘Security and Resiliency Initiative’

JPMorgan Chase on Monday unveiled a sweeping, decade-long, $1.5 trillion initiative to strengthen industries critical to America’s economic and national security.

The effort – called the Security and Resilience Initiative – will direct $1.5 trillion toward projects including energy, manufacturing and defense. As part of the plan, the financial giant will invest up to $10 billion in direct equity and venture capital to help select US-based companies “boost their growth, stimulate innovation and accelerate strategic manufacturing,” the company said.

“It has become painfully clear that the United States has allowed itself to become overly reliant on unreliable sources of critical minerals, products, and manufacturing — all of which are essential to our national security,” JPMorgan Chase CEO Jamie Dimon said in a statement.

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“Our security depends on the strength and resilience of the American economy,” Dimon added. “America needs more speed and investment. It also needs to remove the obstacles that stand in its way: excessive regulation, bureaucratic delay, partisan gridlock, and an education system that is out of step with the skills we need.”

The company said it will focus on four key areas, including supply chain and advanced manufacturing, defense and space, energy independence and resilience, and frontier and strategic technologies. These four areas are divided into 27 sub-domains ranging from cybersecurity to nuclear energy to critical defense components, as stated in the declaration.

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The main entrance to the JPMorgan Chase headquarters building in Manhattan. (Eric McGregor/LightRocket via Getty Images/Getty Images)

“This new initiative includes efforts such as ensuring reliable access to life-saving medicines and critical minerals, defending our nation, building energy systems to meet AI-driven demand and developing technologies like semiconductors and data centers. Our support for customers in these industries remains steadfast,” Dimon said.

JPMorgan will also advocate for policies aimed at accelerating these efforts and conducting targeted research on private companies and supply chain issues related to rare earths, artificial intelligence and advanced technology.

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The financial institution has already planned about $1 trillion over the next decade to support these sectors. Through this initiative, the company is increasing that total by another $500 billion, according to the announcement.

A person uses a Chase Bank ATM on February 29, 2024 in New York City. (Gary Hirschhorn/Getty Images/Getty Images)

As part of the initiative, JPMorgan will hire additional bankers, investment professionals and industry experts. It will also form an external advisory board to help guide its long-term strategy.

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“I hope, once again, as America has done in the past, that we will all come together to confront these enormous challenges,” Dimon said. “We need to act now.”