JPMorgan Chase on Monday unveiled a sweeping $1.5 trillion, decade-long initiative to strengthen industries vital to America’s economic and national security.
The company said it will focus on four key areas, including supply chain and advanced manufacturing, defense and aerospace, energy independence and resilience and frontier and strategic technologies. These four areas are further broken down into 27 sub-areas which range from cybersecurity to nuclear energy to critical defense components, as noted in the announcement.
The financial institution had already planned about $1 trillion over the next decade to support these sectors. With this initiative, the firm is increasing that total by another $500 billion, according to the announcement.