JPMorganChase surpasses $2 billion in Detroit investments, unveils new downtown office to help power city’s next chapter

JPMorganChase today celebrated a major milestone in its more than 90 years doing business in Detroit, announcing that its business and philanthropic investments in the city have surpassed $2 billion since 2014. Marking a new chapter in its commitment to Detroit, the firm also unveiled plans for a state-of-the-art downtown office and conference center at Hudson’s Detroit, designed to foster collaboration, innovation and community engagement. These investments underscore JPMorganChase’s continued support for the city’s resurgence.

“Today, JPMorganChase celebrates more than a decade of impact in Detroit, surpassing $2 billion in investments that will help fuel the city’s future,” said JPMorganChase Chairman and CEO Jamie Dimon. “From revitalized neighborhoods to thriving small businesses, Detroit’s transformation is a story of resilience. It is also a story of what’s possible when the business, government and community come together to test new ideas that create growth. Detroit has become a model for how JPMorganChase invests in communities around the world. We are proud to have played a role in the city’s revitalization, and we look forward to continuing our commitment with our new downtown office.”

“One of the first phone calls I received as Mayor of Detroit was from Jamie Dimon. To think that initial call helped spur $2 billion supporting our people and companies is pretty incredible,” said Detroit Mayor Mike Duggan.“Working together, we’ve shown that businesses and government can drive real change. Detroit’s future is bright, and the transformational investments made by JPMorganChase have played a huge role in the city's turnaround.”

“Over ten years ago, JPMorgan Chase believed in Detroit’s potential and invested in our future,” said Mayor-Elect Mary Sheffield. “Today, as that investment deepens, it reaffirms what we already know; that the Motor City is on the move. I look forward to building on this momentum and ensuring companies across the country see Detroit as the best place to grow and thrive.”

A new chapter: Downtown Detroit office

Building on more than 90 years of doing business in Detroit, JPMorganChase is relocating to a new, state-of-the-art office in the heart of downtown at Hudson’s Detroit. Scheduled for completion in 2026, the new office will serve as a space for collaboration, innovation and community partnerships. It will feature modern workspaces with cutting-edge advanced technologies, dedicated communal areas and flexible meeting spaces. The new office will also include a conference center for client events and meetings as well as space to host community events, financial education workshops, career development programs and networking events.

In addition to its Class A office space, Hudson’s Detroit, a 1.5 million square foot mixed-use development by Bedrock, brings together destination retail—such as ALO and Tecovas—a premier event venue at The Department at Hudson’s, the Midwest’s first EDITION hotel and residences, and the Detroit debut of Danny Meyer’s Union Square Hospitality Group (USHG). The development includes a new public plaza, Nick Gilbert Way, which features seasonal programming and Un Deux Trois, a French-inspired café truck.

“Hudson’s Detroit proudly welcomes JPMorganChase as one of our newest tenants,” said Bedrock Senior Vice President of Leasing Naumann Idrees. “Hudson’s not only embodies the history of Detroit, it’s a symbol of the community and the momentum underway across the region. The iconic workplace and exceptional amenities bring a new experience to the market, including onsite meeting and event space, a lounge and fitness center and its prime location on Woodward Avenue, attracting a strong mix of local, national and global companies.”

$2 billion in Detroit: A decade of impact

JPMorganChase’s more than $2 billion in investments in Detroit since 2014, which include a combination of credit, loans and philanthropic capital, have helped drive progress across five key areas detailed below. This excludes tens of billions in financing to corporations headquartered in Detroit, including major automakers.

Real estate, employees and local services

• Invested $73 million in local real estate purchases and redevelopment and local services, including the construction of the Corktown Community Center branch, development of new office space at Hudson’s and purchases from local suppliers.
• Sent more than 185 employees from 15 countries to Detroit as part of the firm’s Service Corps, a skills-based volunteer program that taps the talent and expertise of JPMorganChase’s global workforce to help local nonprofits address challenges and support the execution of the city’s strategic plans.

Business growth and entrepreneurship

• Deployed $568 million in lending and credit to local small businesses.

• Provided more than $37 million in philanthropic investments to more than 30 nonprofits, helping Detroit small businesses access the capital, customers, connections and resources needed to grow and succeed.

• Supported over 360 small businesses through the Detroit-area Coaching for Impact 1:1 consulting and executive coaching program.

Housing and neighborhood development

• Deployed $1.1 billion in home loans to help Detroiters purchase, refinance and renovate their homes.

• Invested $158 million to support the creation of over 3,800 affordable housing units.

• Deployed $77.5 million to critical Community Development Financial Institutions (CDFIs) including Invest Detroit, Detroit Neighborhoods Fund (managed by Capital Impact Partners) and the Detroit Housing for the Future Fund (managed by LISC Fund Management) to support local development, increased housing supply, entrepreneurship and job creation.

• Provided $104 million in New Market Tax Credits and Historic Tax Credits to support educational institutions, infrastructure projects, manufacturing factories, community facilities and retail stores, including:
  • $1.97 million to acquire and rehabilitate Detroit Prep, a previously vacant school, which now serves up to 430 students.
  • $2.5 million for the McClellan Early Childhood Education Center, which provides quality, accessible early childhood education services for low-income families.
  • $13.6 million to develop and operate the QLINE, a 3.3-mile light rail system in the heart of Detroit.
  • More than $2 million to support the expansion of Goodwill’s Green Works recycling facility.
  • $3.2 million to convert the historic Cadillac Motor Car Company Assembly Plant into a modern apartment building with 90 units.
  • $4.7 million to modernize Eastern Market.

• Supported over 1,000 jobs through tax credits and infrastructure investments.

• Delivered $162 million in community development banking loans, strengthening neighborhoods and improving access to essential services and housing for people with developmental and intellectual disabilities, as well as families experiencing homelessness and poverty.

• Provided nearly $48 million in philanthropic investments to more than 25 nonprofits to support neighborhood improvements through commercial corridor revitalization, catalytic park investments, streetscape improvements and housing stabilization, including removing blighted homes and building affordable housing in several Detroit neighborhoods.

Careers & skills

• Launched the company’s first virtual call center in Detroit, training and hiring over 100 Detroiters to serve as Chase customer service specialists who handle more than 1 million customer service calls each year. Since launching in Detroit, the firm has expanded its virtual call center model, including to Baltimore and Atlanta.

• Provided more than $32.3 million in philanthropic investments to 39 nonprofits to help build a comprehensive and data-driven understanding of the city’s workforce challenges, align local job training programs with high-demand industries and place thousands of Detroiters in apprenticeships or full or part-time jobs.

Financial health

• Opened the Corktown Community Center branch, which has become a hub for financial health, career support and small business engagement.

• Hosted more than 150 financial health events at the Corktown Community Center branch, reaching nearly 3,000 attendees.

• Provided nearly $16 million in philanthropic investments to more than 20 nonprofits, offering innovative tools and solutions to help Detroiters build financial stability, resilience, and lasting wealth.

As Detroit’s economy has grown, so too has the firm’s local business. Since 2018, the firm increased the number of small businesses it serves by more than 50%. Between 2014 and 2024, deposits in Detroit increased by more than 45%, and revenue value in Wayne County increased by 15% between 2022 and 2024.

About JPMorganChase

JPMorganChase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.6 trillion in assets and $357 billion in stockholders’ equity as of June 30, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers predominantly in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorganChase & Co. is available at www.JPMorganChase.com.