JPMorgan Chase Expanding Economic Opportunity for Black Americans

澳博官方网站app(JPMorgan Chase)今天宣布了“推进黑人道路”(Advancing Black Pathways，简称ABP)计划，以公司现有的努力为基础，帮助美国黑人取得经济上的成功. As part of this, the firm is expanding its Entrepreneurs of Color Fund model to Greater Washington, D.C., providing capital and business training to underserved minority entrepreneurs in the region.

“让经济为更多人服务不仅是一种道德义务，也是一种商业需要,” said Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase. “我们正在扩大我们现有的承诺，帮助更多的黑人家庭创造经济机会, businesses, employees, and communities.”

Economic opportunity is out of reach for many black Americans, who lack access to resources that can help put them on a path to great careers, build wealth, grow a business, and participate in the benefits of a growing economy.

“We know that when we bring the full power of our firm to our branches, customers and communities, we can make a significant positive impact,” said Thasunda Duckett, CEO of JPMorgan Chase’s Consumer Bank and the ABP executive sponsor. “我很自豪能在推进黑人之路中发挥作用，这将为美国黑人创造财富提供更多机会.”

ABP, which will continue to roll out new programs in the coming months, 将公司的商业和慈善资源结合起来，以三种方式加速美国黑人的经济机会:

1. Strengthen Education and Job Training: Improve education and job readiness for black students. This includes a commitment to hire more than 4,在接下来的五年里，将有1000名黑人学生在大学和高中实习和见习. Additionally, 该公司将扩大与传统黑人学院和大学以及其他非营利组织的合作伙伴关系，以招募人才，支持黑人学生的专业发展和财务健康.
2. Grow Careers: Promote a culture where all employees are treated fairly, with respect, and have access to career opportunities. 该公司将在其“推进黑人领袖”招聘项目取得成功的基础上，扩大黑人人才的职业领导途径, 包括其董事咨询服务，以帮助培养和推荐更多的黑人高管进入客户的董事会.
3. Build Wealth: Help strengthen the financial wellness of black families. With unique insights into the financial needs of Americans, 澳博官方网站app和ABP将发展战略合作伙伴关系，以改善美国黑人的财务状况, including in its branches, by helping to build savings, improving credit, providing homebuyer counseling, and helping black-owned small businesses access capital. To start, the firm will expand the Entrepreneurs of Color Fund to the Greater Washington region.

Expanding Opportunity and Promoting Diversity

ABP builds on existing JPMorgan Chase programs to expand opportunity and promote diversity.

• The Fellowship Initiative (TFI) 提供密集的学术和领导力培训，帮助来自经济困难社区的有色人种年轻人完成高中教育，并为他们进入学院和大学做好更好的准备.
  • 140 students have completed the program in Chicago, Dallas, Los Angeles and New York
  • 100 percent high school graduation and college acceptance to date
  • $30 million in scholarships and aid provided

• Advancing Black Leaders 扩大了公司对美国黑人的招聘，同时也促进了卓越的领导和人才留存. Since 2016, 澳博官方网站app(JPMorgan Chase)的黑人董事总经理人数增加了41%，黑人执行董事人数增加了53%.

• Entrepreneurs of Color Fund expands access to capital for minority entrepreneurs. Launched in Detroit in 2015, the program has since expanded to Chicago, San Francisco and the South Bronx. To date, 来自澳博官方网站app的1700多万美元为这些地方基金吸引了另外2200万美元的外部资本，并帮助创造或保留了1亿美元,250 jobs at minority-owned small businesses.

Expanding Entrepreneurs of Color Fund to Greater Washington

The opportunity to drive economic growth by investing in black families and businesses is real. Nielsen found black consumers have $1.2 trillion in buying power. According to Global Policy Solutions, if people of color owned businesses at the same rates as white entrepreneurs, it would result in 9 million more jobs and $300 billion in worker income. According to the Association for Enterprise Opportunity, if black-owned businesses could reach employment parity with all firms, they would create nearly 600,000 new jobs and put black job-seekers at full employment.

JPMorgan Chase is expanding its Entrepreneurs of Color Fund to the Greater Washington region, seeding the loan fund with a commitment of $3.65 million, Capital Impact Partners承诺投资200万美元，a. James & Alice B. Clark Foundation, for a total of $6.65 million. This effort builds on existing Entrepreneurs of Color Funds in Detroit, Chicago, San Francisco and the South Bronx.

“投资少数族裔企业是我们推动该地区就业增长和经济机会的最有效方式之一,” said Peter Scher, Head of Corporate Responsibility and Chairman of the Mid-Atlantic Region for JPMorgan Chase. “The Greater Washington region is thriving, but opportunity is not shared equally. With the Entrepreneurs of Color Fund, 我们正在引进一种经过验证的模式，扩大我们整个地区获得资本的渠道，并将有助于确保更多的人有机会参与我们不断增长的经济.”

该基金将向该区域的当地少数民族企业家提供资金和其他资源, from northern Virginia to Baltimore. Additionally, 澳博官方网站app(JPMorgan Chase)已与包括安妮. 凯西基金会和巴尔的摩社区基金会，以补充在整个地区发生的各种小企业和影响投资倡议，旨在促进当地经济活动和创造就业机会. According to the Initiative for a Competitive Inner City, Washington D.C.’s small businesses, collectively, 每个企业多雇佣一个人，就能显著降低城市的失业率吗.

“Together, by expanding access to capital and supporting our local entrepreneurs, we’re giving more Washingtonians a fair shot,” said Washington, D.C. Mayor Muriel Bowser. “Small and local businesses are not only the backbone of our economy, they are also an opportunity for our residents to participate in D.C.’s prosperity. By expanding the Entrepreneurs of Color Fund to Washington, D.C., 澳博官方网站app将支持我们在当地开展的工作，为所有八个区的居民创造通往中产阶级的道路.”

The program will pair low-cost capital with business advisory services, including networking support and business coaching, to support diverse entrepreneurs and drive business growth.

• Preserving and growing minority-owned businesses in commercial corridors:与拉丁裔经济发展中心(LEDC)和华盛顿地区社区投资基金合作, the Fund will:
  1. Provide capital to update and invest in the storefronts, inventory, and service delivery systems, 以及为华盛顿商业走廊沿线的少数族裔小企业提供技术援助, D.C.’s Wards 7 and 8;
  2. 支持在商业走廊保留长期存在的少数族裔小企业，以减轻大型基础设施项目的影响.

Additionally, 马里兰港银行将带头为巴尔的摩和乔治王子县的少数族裔企业提供低成本贷款和商业支持.

• Cultivating a new generation of minority housing developers: Replicating the success of the Equitable Development Initiative in Detroit, 有色人种企业家基金将与Capital Impact Partners合作，为该地区少数族裔住房开发商提供量身定制的低成本资金.
• Streamlining anchor institution procurement: Similar to the San Francisco Entrepreneurs of Color Fund, which taps into supplier diversity pipelines to the Chase Center, 该基金将与Wacif和非营利住房与经济发展联盟(Coalition for Nonprofit Housing and Economic Development)合作，为更多当地少数族裔企业扩大规模并获得华盛顿地区主要机构的合同提供所需的资金和建议, 它们承诺从该地区的不同企业购买超过20亿美元的供应品和服务.

Leveraging Expertise

Sekou Kaalund将领导advance Black Pathways，向执行发起人Thasunda Duckett报告. 澳博官方网站app还成立了一个外部咨询委员会，以提供独特的专业知识，并为ABP推动社区包容性增长的方法提供信息. The Council consists of the following civic and business leaders:

• James Bell, Board Director at JPMorgan Chase, Dow Chemical, Chicago Urban League, World Business Chicago and Apple
• Maverick Carter, Business Manager for LeBron James and CEO of SpringHill Entertainment and UNINTERRUPTED
• Richelieu Dennis, Founder of Sundial Brands, Essence Ventures and Owner of Essence Communications
• Kevin Hart, Actor, Comedian and CEO of Hartbeat/LOL Network
• Mellody Hobson, President of Ariel Investments, Head of the Economic Club of Chicago and Board Director at JPMorgan Chase, Starbucks and Estee Lauder
• Andrea Hoffman, Founder and CEO of Culture Shift Labs
• Marc Morial, CEO of the National Urban League and former Mayor of New Orleans
• Soledad O’Brien, Chairwoman of Starfish Media Group and broadcast journalist
• Secretary Colin Powell, former U.S. Secretary of State and US Army General (Ret.)
• James Rhee, Ashley Stewart CEO, Founder and President of FirePine Group
• Secretary Condoleezza Rice, former U.S. Secretary of State, former National Security Advisor and professor at Stanford Graduate School of Business
• Michael Sorrell, President of Paul Quinn College

Click for more information about Advancing Black Pathways.

Click for more information about the Entrepreneurs of Color Fund.