Jamie Dimon announces $24 million plan to support U.S. shipbuilding
JPMorgan shipbuilding investment backs U.S. submarine manufacturing and maritime suppliers, loans, and grants to boost national security and growth
JPMorgan Chase CEO Jamie Dimon said the bank will commit $24 million to help revive American shipbuilding, including support for a new submarine manufacturing facility at the Philadelphia Navy Yard.
The package includes $18 million in loans and investments and $6 million in grants. JPMorgan said the money will also help expand lending to maritime small businesses and strengthen regional suppliers.
Dimon said the effort is part of the bank’s broader $1.5 trillion initiative aimed at industries tied to U.S. economic and national security. He pointed to rising geopolitical tensions as one reason governments and companies are focusing more on domestic industrial capacity.