JPMorgan CEO Dimon Announces $24M for U.S. Shipbuilding on Wednesday

Hanwha2.26%

According to CNBC, JPMorgan CEO Jamie Dimon on Wednesday announced a $24 million effort to boost American shipbuilding as part of the bank's $1.5 trillion security project aimed at strengthening industries critical to U.S. economic and national security.

The package includes $18 million in loans and $6 million in grants to finance a submarine manufacturing facility at Philadelphia Navy Yard being built by Rhoads Industries and Hanwha (a South Korean conglomerate), expand lending to maritime-related small businesses, and strengthen regional suppliers.

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