JPMorganChase announces $3.5 million to help more Boston residents access good jobs, grow small businesses and build financial stability

JPMorganChase today announced approximately $3.5 million in new philanthropic support for organizations across Greater Boston working to expand economic opportunity by preparing more people for good jobs, supporting small business growth and helping Bostonians build financial stability. The funding, which is part of JPMorganChase’s nationwide efforts to expand economic opportunity and advance the American Dream, builds on more than $25 million provided to Boston-area nonprofits over the last five years.

The announcement comes as JPMorganChase continues to deepen its Boston presence, with more than 1,500 employees across its corporate offices and branches, and plans to add hundreds of jobs in the coming years as it expands into more than eight floors at South Station Tower. An independent study found the firm contributes more than $1.4 billion annually to the local economy and supports an additional 1,000 jobs across industries including dining, retail, entertainment and professional services.

“Healthy and vibrant communities are built on good-paying jobs, thriving small businesses, and opportunities for young people to build a stronger future,” said Mayor Michelle Wu. “We thank JPMorganChase for their efforts to help connect more residents to quality jobs, giving local entrepreneurs the resources they need to grow, and helping families build greater financial stability. Together, these efforts will help us build a City where everyone can thrive.”

“Boston is a dynamic city with incredible talent, businesses and institutions, and we see tremendous opportunity to build on that strength," said Rick MacDonald, New England Region Manager for Commercial Banking and Chair of the New England Market Leadership Team at JPMorganChase. "JPMorganChase is investing in Boston for the long term, from growing our workforce and presence in the city to working alongside local organizations to expand opportunity for residents, entrepreneurs, and communities. We’re proud of what we’ve built here and excited about what we can accomplish together.”

Strengthening pathways from the classroom to careers

JPMorganChase is focused on helping strengthen pathways for Boston students, young adults and workers to gain the skills, experience and professional networks they need to secure good jobs, particularly in life sciences and technology. The firm’s support for local organizations and programs aim to promote career-connected learning through technical training, internships, career advising, job placement, and financial coaching.

The funding will support:

• Boston Private Industry Council: Expanding Tech Apprentice, a paid internship and career exploration program for Boston Public Schools students, with additional bootcamps in coding, AI, cybersecurity, and cloud computing. Building on more than 1,075 existing internship placements, the grant plans to support a new cohort of 75 additional students.
• Year Up: Expanding the Life Sciences Career Alliance with MassBio, aligning nonprofit and community college training with employer demand. The effort aims to help more than 500 young adults access entry-level, living-wage life sciences careers.
• Just a Start: Providing tuition-free biotech and information technology training, including robotics and automation skills, paired with career readiness, credentialing and job placement support, while embedding financial workshops and one-on-one financial coaching for participants.
• EdVestors: Supporting the next phase of New Skills Boston and expanding high-quality career pathways with Boston Public Schools, Bunker Hill Community College, the University of Massachusetts Boston and the Boston Private Industry Council. The initiative aims to reach at least 50% of Boston Public Schools students with meaningful career-connected learning opportunities, including advising, internships, advanced coursework, college-in-high-school opportunities and postsecondary transition support.
• Bioversity: Supporting their free, stipend-supported eight-week job training program, Biotech Career Foundations, that aims to place 60 working-age adults from low-income and underrepresented householders each year into entry-level life sciences roles through hands-on technical training, professional preparation, job placement and ongoing career coaching.

“Greater Boston is a global leader in life sciences, and people across our communities should have the opportunity to participate in that growth,” said Zach Stanley, Executive Director, Bioversity. “With support from JPMorganChase, Bioversity is helping more people build the skills, experience and connections they need to launch careers in this growing industry.”

Impact in action: A new pathway into Boston’s life sciences economy

Kevin-Ray Charlot was working in the automotive industry when he enrolled in Bioversity’s free Biotech Career Foundations program with no previous science or laboratory experience. After graduating, he landed his first biotech job as a production associate at Organogenesis, a Massachusetts-based regenerative medicine company, working on the production of a cell therapy used to treat chronic wounds.

“My life has changed in the sense that I have a new trajectory for my career path,” Charlot said. “I was motivated to join Bioversity because of the growing presence of the biotech industry in Massachusetts. From hands-on activities in a lab setting to meaningful lectures and networking opportunities, I felt as though I received all of the tools necessary to start a career.”

Helping small businesses grow and keeping opportunity local

As part of its American Dream Initiative, JPMorganChase is expanding how it supports entrepreneurs in the Greater Boston region.

Expanding direct support for entrepreneurs

JPMorganChase plans to increase its local business banker team by nearly 50% over the next five years. These bankers work directly with business owners to provide lending solutions, along with resources and industry connections that can help small businesses start and scale with confidence.

The firm is also expanding its Coaching for Impact program, which provides small businesses with complimentary access to one-on-one consulting, executive coaching, and on-demand education tailored to their specific needs. More than 15,000 business owners and entrepreneurs across the U.S. have graduated from the program since its launch, including more than 425 in Greater Boston. JPMorganChase aims to graduate more than 750 additional local business owners and entrepreneurs over the next five years.

New philanthropic support for small business growth and ownership transitions

• Cooperative Development Institute: Supporting the Northeast Transition Initiative, a partnership with the Cooperative Fund for the Northeast and ICA Group that helps business owners, business service organizations and community development financial institutions plan and finance ownership transitions, including employee ownership, that can preserve local businesses and jobs.
• Massachusetts Association of Community Development Corporations: Helping connect underrepresented businesses with contracting opportunities through a vetted vendor database, request-for-proposal templates and monthly peer learning.
• Center for Women & Enterprise: Providing women, veterans, and growth-stage small business owners with free and low-cost workshops, one-on-one counseling, small-group working sessions, cohort-based programs and events designed to strengthen financial and business skills.
• The Builder Coalition: Supporting the Capital Lab and Innovation Center, which connects research, convening, and implementation to broaden financing options and improve access to capital for developers.

These initiatives build on $1.3 million in philanthropic support announced in 2025 that has already helped more than 500 local small businesses through tailored counseling, capital readiness coaching and workshops and capital access support.

Impact in action: Preserving a century-old local business through employee ownership

For more than a century, Eastern Garage Door has installed and serviced garage doors across Greater Lawrence and the Merrimack Valley. When longtime owner David Berryan decided it was time to step away, he chose to transition the company into an employee-owned cooperative rather than sell it to an outside company.

Berryan and his team worked for roughly a year and a half with the JPMorganChase-supported Cooperative Development Institute’s Business Ownership Solutions program to establish a steering committee, train employees on business operations and secure financing for the employee buyout.

“I wanted to see the company continue on after me,” Berryan said. “I certainly didn’t want to sell it to an outside company. I didn’t have a family member interested. I had another form of family, my employees. They are much of the driving force.”

Strengthening financial health

JPMorganChase is also supporting organizations helping Greater Boston residents build stronger financial footing, access safe financial products and services and create more opportunity for themselves and their families. Since 2021, the firm has delivered hundreds of free financial health events for customers and community members in neighborhoods including Mattapan, Roxbury, Dorchester and Chinatown.

The funding will support:

• MassINC: Supporting the Middle Class Project, bringing together leaders across sectors to examine the barriers facing Massachusetts households, including housing, workforce and childcare costs, education, health care, and taxes, and inform solutions tied to economic mobility.
• Partnership for Financial Equity: Helping launch the MA Bank On Coalition, and statewide financial inclusion efforts designed to expand access to safe banking products and services.
• Midas Collaborative: Supporting the Midas Economic Mobility Incubator, a three-year pilot that helps small Boston-based nonprofits launch matched savings programs through technical assistance, shared infrastructure, seed funding, workforce training and connections to banking partners.

JPMorganChase Community Managers will also continue delivering Chase Money Skills workshops through local workforce programs and community locations, helping participants strengthen practical financial understanding as they prepare for college, careers and long-term financial goals.

“Creating economic opportunity requires meeting people at different points in their journey, whether they’re preparing to enter the workforce, growing or transitioning a business or working toward greater financial stability,” said Roma Kaundal, head of U.S. philanthropy, JPMorganChase. “We’re focused on supporting local organizations that understand their communities, working alongside them to create practical pathways for more people to share in Greater Boston’s economic growth.”

JPMorganChase in Greater Boston

JPMorganChase has served Greater Boston for more than five decades, creating local jobs, supporting businesses, and helping families build greater financial stability. Today, more than 2,200 employees work across the firm’s corporate offices and more than 85 branches in the region, serving 1.2 million consumers and more than 71,000 small businesses.

About JPMorganChase

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $5.1 trillion in assets and $372 billion in stockholders’ equity as of September 30, 2026. 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 in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.