JPMorgan Chase Commits Over $1.3 Million to Increase Skills Training and Job Growth in Detroit
September 27 2016 - 8:00AM
Business Wire
New investments will bolster the city’s
workforce development efforts through job skills training programs
and the establishment of a new leadership academy for local
workforce professionals
JPMorgan Chase & Co. is investing over $1.3 million to
increase the number of Detroiters receiving skills training for
in-demand jobs and to strengthen partnerships between job seekers,
local employers and training providers, the firm announced today.
As part of JPMorgan Chase’s $100 million commitment to the city’s
economic recovery, the new grants will support the Detroit
Employment Solutions Corporation, United Way for Southeastern
Michigan and Corporation for a Skilled Workforce (CSW).
Specifically, the investments will create an innovative and new
leadership development academy for local workforce professionals,
improve connections between Detroiters and existing job openings in
growing local industries and address the skills mismatch between
local employers and job seekers.
“By aligning our investments with the city’s workforce
priorities, we are giving more residents the chance to climb the
economic ladder and gain critical job skills and we are helping
workforce leaders build effective job training and employer
engagement programs,” said Chauncy Lennon, Head of Workforce
Initiatives, JPMorgan Chase.
Earlier this year, JPMorgan Chase and CSW released a series of
reports that examined ways to strengthen Detroit’s workforce
systems. The reports identified specific opportunities for the
city’s workforce infrastructure, funding, organizations and
programs, including the Mayor’s Detroit Workforce Development
Board, to work together to help job seekers and employers.
“As Detroit comes back, we want to make sure that Detroiters are
participating in the turnaround - and that means having the skills
to secure available jobs," said Detroit Mayor Mike Duggan.
“JPMorgan Chase’s latest investments will help continue to fuel our
employment growth by providing skills training for our residents.
This is great news for Detroiters and businesses seeking a
well-trained workforce.”
About 6,200 more Detroiters are working today than in January
2016 and the city’s employment growth is outpacing overall U.S.
growth, according to the city. Still, the report found that Detroit
has a relatively weak labor force with only 62 percent of
Detroiters between the ages of 16 and 64 employed. Additionally,
many residents do not have the necessary skill and education levels
to qualify for good-paying local jobs while workforce training
programs were not well enough aligned with the needs of residents
and employers.
To tackle Detroit’s biggest workforce challenges, JPMorgan
Chase’s new workforce investments include:
- Corporation for a Skilled Workforce
($490,000): CSW will facilitate a new Detroit Workforce System
Leadership Development Academy for local workforce professionals.
This academy will provide Detroit workforce leaders with an
opportunity to collaborate on developing practical solutions to
solve some of the city’s most challenging workforce issues. The
academy will leverage and build on the expertise of leaders across
the workforce community to help up to 20 local senior workforce
leaders better engage employers, understand industry workforce
needs, develop successful career pathway strategies and strengthen
connections between training providers, job seekers and employers.
This year-long learning program is advised by an executive-level,
Detroit-based council and will be led by local leaders and guest
faculty from across the nation. Interested applicants can review
program requirements and submit an application here.Additionally,
this grant will support the expansion of a Supplemental Nutrition
Assistance Program Education and Training (SNAP E & T) pilot in
Detroit. This program will maximize the workforce system’s
access to and ability to leverage non-federal training
dollars, which are instrumental in helping workforce readiness
training programs provide more services and opening doors to
employment opportunities.
“JPMorgan Chase’s grant will be instrumental in advancing the
leadership culture of learning and innovation that Detroit's
leaders are working to build,” said Jeannine LaPrad, CEO,
Corporation for a Skilled Workforce. “The SNAP E & T
Expansion program positions Detroit with a handful of other cities
across the nation who are proactively pursuing this opportunity for
residents. Through the Academy, local leaders will
increase their capacity to tackle persistent employment
challenges for Detroit residents and employers. Overall, this grant
helps Detroit be on the leading edge of workforce system
transformation.”
- Detroit Employment Solutions
Corporation ($680,000): The Demand-Driven Detroit Training
Program will provide 100 pre-apprenticeships that are focused on
career-specific skills development for jobs in the information
technology, manufacturing, healthcare, advanced manufacturing and
transportation/logistics industries.
“The city of Detroit is seeing significant demand in a number of
key occupational sectors, and we need to ensure that a pipeline of
skilled talent is available to support that demand,” said Jose
Reyes, Interim President and CEO, Detroit Employment Solutions
Corporation. “This award from JPMorgan Chase aligns exactly
with that need, and will allow many Detroiters to acquire the
skills they need to access long-term careers in major growth
industries.”
- United Way for Southeastern Michigan
($150,000): The Detroit Regional Workforce Fund (DRWF), through
its Access for All program, will create a pipeline of 100 new
workers that have the necessary training and skills for careers in
the construction and manufacturing industries. Also, the investment
will support the growth of a prisoner re-entry program that
connects ex-offenders to employment opportunities in skilled trades
and other critical services.
“We want to thank JPMorgan Chase for providing the funding to
support the growth of Access for All, a market-driven demand
strategy of the DRWF that provides pathways to opportunities,
including a pipeline of 100 new workers for careers in the skilled
trades industries,” said Karen Tyler-Ruiz, Director, Detroit
Regional Workforce Fund. “The DRWF, which is housed at United
Way for Southeastern Michigan and is an innovative, fiduciary
collaborative of public-private sector organizations, responds to
gaps in workforce and trains unemployed or underemployed Detroiters
for good jobs that will improve their lives as well as the lives of
their families and the entire Detroit community.”
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE:JPM) is a leading global
financial services firm with assets of $2.5 trillion and operations
worldwide. The Firm is a leader in investment banking, financial
services for consumers and small businesses, commercial banking,
financial transaction processing, and asset management. A component
of the Dow Jones Industrial Average, JPMorgan Chase & Co.
serves millions of consumers in the United States and many of the
world's most prominent corporate, institutional and government
clients under its J.P. Morgan and Chase brands. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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Media:For JPMorgan Chase & Co.;Steve O’Halloran,
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