JPMorgan Chase to add 1,800 Del. jobs

WILMINGTON — JPMorgan Chase and Co. plans to add 1,800 jobs in Delaware by 2019.
Company and state officials said Monday the new hires will bring JPMorgan’s Delaware workforce to almost 10,000 employees, spurring the state’s total financial-sector employment to its highest level ever. The new employees will work primarily in technology, finance, asset management and global data operations.

Gov. Jack Markell’s office says the new jobs would represent the biggest corporate expansion since AstraZeneca moved its U.S. headquarters to Delaware in 1999. JPMorgan Chase would have nearly 10,000 employees in Delaware, making it the state’s second largest private employer. The company leads a healthy and growing financial sector that added 4,300 new jobs in industry over the last five years, a 10 percent expansion.

The new expansion will raise the number of people employed in the sector in Delaware to its highest level in history, according to the governor’s office.

”JPMorgan Chase has a distinguished history of financial leadership and innovation in this state and in this country, and we are proud that, with so many options, the company chose to invest for its future in Delaware,” said Gov. Markell in a prepared statement. “We have a financial services and technology workforce that is second to none, and we are thrilled with today’s announcement to bring hundreds of millions of dollars of investment and 1,800 good-paying jobs to our communities.”

To support JPMorgan Chase’s expansion in Delaware, the Delaware Economic Development Office has agreed to match 3 percent of the firm’s capital expenses, up to $3 million a year for three years. Those funds, which are contingent upon meeting employment obligations, will support updating, enhancing and potentially expanding the current facilities.

And, the state has agreed to provide up to $500,000 annually for three years to support the company’s workforce training.

The Delaware Transit Corp. is committing $1 million annually over three years for transportation enhancements, including more frequent train service between Wilmington and Philadelphia.

“We never could have accomplished this without the support and positive climate that our state, federal, and local officials consistently provide to our industry and, more importantly, to our employees and their families,” said Bill Wallace, the company’s Chief Administrative Officer for Delaware. “This is especially true when it comes to Delaware’s Economic Development Office, which continues to show forward and positive thinking.”

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