JPMorgan Chase intends to invest $17 million over 5 years in a summer jobs program to give kids the skills needed to succeed in business. Detroit is one of the cities to get big money for the project.
The first phase of the Summer Youth Employment Program includes $3 million to organizations in 19 U.S. cities that provide training and work experience for young people.
Chase will invest 500,000 in City Connect Detroit.
JP Morgan Chase CEO Jamie Dimon says "it's a moral and economic crisis" that too many young people graduate high school without appropriate work skills and it should be a national priority to give them those skills through meaningful summer work."
In addition to Detroit's investment, chase will give $300,000 each to the Chicago Public School Foundation and United Way Bay Area in San Francisco; and $100,00 to the Boston Private Industry Council.