Jamie Dimon mentioned he’s serving to Florida make billions of {dollars} yearly, as JPMorgan Chase & Co. expands south.
The financial institution is renovating its workplaces in Tampa, a Florida metropolis the place it has greater than 6,000 workers, in a mission that may add $210 million to the native economic system, Dimon mentioned in his annual shareholder letter.
The financial institution’s chief govt officer took inventory of a number of different efforts throughout the state, together with $65 million in donations to native charities and a deal to name the house soccer stadium the place Lionel Messi performs in Fort Lauderdale.
“Each year, we contribute billions of dollars to the economy, hire and train local residents, help to revitalize neighborhoods and remove barriers to opportunity for Floridians across the state,” Dimon mentioned in a piece of the letter titled “Powering Economic Growth in Florida.”
Florida has attracted scores of finance staff for the reason that starting of the pandemic, lured by low taxes, an abundance of sunshine and lax Covid restrictions. Whereas many of the consideration was targeted on locations like Miami and Palm Seaside, different elements of the state additionally benefited from the largess.
JPMorgan will add about 9,000 sq. toes to its downtown Tampa workplace and do a “massive modernization” of the three buildings that it occupies on the close by Highland Oaks campus, which homes one of many financial institution’s world cost facilities, in accordance with a spokesperson.
The financial institution has a workforce of 14,000 in Florida, in accordance with Dimon’s letter. That compares to greater than 30,000 workers in Texas, whereas New York’s whole has slipped to fewer than 29,000. In February, Dimon praised Texas for its business-friendly insurance policies. The common JPMorgan worker in Florida makes a wage of $87,000, greater than twice the Florida common of $40,000.
“We’re proud that one-third of all Floridians do business with us through deposits, credit cards or a mortgage,” Dimon wrote within the letter.
