With help from the bank begun with assistance from the federal government, Detroit pulled itself up by its bootstraps during the Great Depression.
Eventually, JPMorgan Chase bought the National Bank of Detroit and is continuing the tradition of investing in the community. Today, collaboration and public-private partnerships are again turning around a city beaten down by the recession in the late 2000s.
The city has partnered with JPMorgan Chase and the Corporation for Skilled Workforce to gather data useful in workforce development. The bank has also invested in growing incubators to assist entrepreneurs – particularly minority-owned businesses – and in supporting community development funds to turn around blighted neighborhoods.
To learn more details about how collaboration and investment are rebuilding Detroit, click here.