September 9, 2025

As part of our Zoom In partnership with Axios and the US Conference of Mayors we hosted an event in Austin to highlight and scale insights from JPMorganChase’s work in Texas to build high-quality career pathways, and in particular how education, government and the private sectors can together meet regional labor market needs and boost economic growth. During the event, workforce leaders across sectors voiced their support for S.B. 1786 (89R), a bill that continues state efforts to prioritize student outcomes. Key elements of the bill were also highlighted in JPMorganChase's What Works report, Expanding High Quality Career Pathways in Texas.

We are pleased that shortly after that convening, S.B. 1786 was approved by the Texas legislature and signed into law by Governor Abbott, marking a pivotal advancement in Texas' commitment to strengthening high-quality career pathways.

In 2023, Texas enacted a new law (H.B. 8) with JPMorganChase’s support that reimagined the way the state supports its community colleges by shifting from a model based on courses and credit hours to one prioritizing outcomes such as credentials of value attainment, transfer success, and dual credit completion. Building on HB 8, SB 1786 aims to help more Texans earn credentials of value by strengthening the outcomes-based funding model for community colleges. In an insightful op-ed for the Dallas Morning News, Michelle Thomas joins Miguel Solis from The Commit Partnership to discuss how the state is expanding access to opportunity.

JPMorganChase is committed to fostering economic growth that strengthens all communities by ensuring workers and businesses have the essential skills, experiences, and opportunities to thrive. Community colleges are one of the most powerful engines of economic mobility in Texas, serving nearly 700,000 students each year.1 The Comptroller’s office estimates that Texas community colleges contribute $9.8 billion annually to the state’s economy and support nearly 78,000 jobs.2

That’s why we’ve supported policies with bipartisan support like Texas’ H.B. 8 (88R) and S.B. 1786 (89R), which aim to transform education and workforce systems to create high-quality career pathways that increase economic mobility. In alignment with the firm’s education and workforce policy priorities, JPMorganChase support key elements of S.B. 1786, including:

  • Strengthening Credentials of Value: Refines how a credential of value is defined to ensure credentials align to high-wage, in-demand careers.
  • Enhancing Workforce Data: Improves regional labor market insights to help community colleges better align their offerings with local workforce needs.
  • Improving Career and Technical Education Funding Coordination: Improves collaboration between the Texas Education Agency, Texas Higher Education Coordinating Board, and the Texas Workforce Commission.
  • Expanding Access to Opportunity: Awards community colleges for successful transfers to all Texas higher education institutions, including private, and expands access to dual credit by clarifying scholarship eligibility.

This outcomes-based model is not just a story about policy. This new law marks a commitment to strengthening high quality career pathways and would not have happened without the support from the Texas Association of Community Colleges, Texas Tri-Agency Workforce Initiative, and Texas Commission on Community College Finance, along with partners like Texas 2036 and the Commit Partnership.

We look forward to continuing to work with community leaders, policymakers, and workforce experts to expand high-quality career pathways across the U.S. To learn more, visit JPMorganChase’s Expanding High Quality Career Pathways in Texas "What Works" report, which explores Texas' innovative strategies for creating high-quality career pathways engagement. To read the firm’s education and workforce policy priorities and learn more visit https://www.jpmorganchase.com/impact/careers-and-skills.

JPMorgan Chase is committed to expanding high-quality career pathways. Our insights and philanthropic commitments helped shape policy recommendations and map credentials across K-12 and community college systems. Since 2020, we have invested more than $350 million in expanding career and wealth building opportunities nationally. With more than 105 years serving the Dallas-Fort Worth region, JPMorganChase is helping to create an economy that works for all by supporting skills training for high-value, in-demand jobs, uplifting communities through small business growth, and expanding access to housing and homeownership opportunities—now and into the future. JPMorganChase is one of the largest employers in Texas, employing nearly 31,000 individuals locally. This includes more than 18,000 employees in the Dallas Fort Worth region and over 1,500 veterans. From 2019 to 2024 alone, the firm committed $41.4 million in Texas for educational and workforce development initiatives to enhance career readiness, community resilience, and student support through scholarships and mentorship programs.

References

1.

Texas 2036. "The Powerhouses of Opportunity: Today's Community Colleges." Texas 2036. Accessed June 4, 2025. https://texas2036.org/posts/the-powerhouses-of-opportunity-todays-community-colleges.

2.

Texas Comptroller of Public Accounts. "Colleges and Universities." Texas Comptroller of Public Accounts. Accessed June 4, 2025. https://comptroller.texas.gov/economy/economic-data/colleges.

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