JPMorgan Chase to invest $8.45 million to address Baltimore’s vacancy crisis and revitalize commercial corridors

By Megan SaylesAFRO Business Writermsayles@afro.comJPMorgan Chase committed $8.45 million to advance economic and community development in Baltimore City on June 4. The firm will deploy funding to nonprofit organizations addressing the vacant housing crisis, commercial corridor restoration and small business growth. JPMorgan Chase is aiding Baltimore in its fight to tackle the vacant housing crisis. The firm announced an $8.45 million philanthropic commitment to support housing stabilization and small business growth in the city. As part of the new funding, Mayor Brandon M. Scott is matching JPMorgan Chase’s $1 million investment in the Baltimore Civic Fund’s “Vacancy to Vibrancy” initiative. It will assist in the restoration of commercial corridors in West Baltimore and the opening of new storefronts in Downtown Baltimore.The investment is a part of JPMorgan Chase’s broader five-year, $20 million commitment to support Baltimore’s underserved communities, which was announced in January 2022.& “There is just so much opportunity in Charm City, and we at JPMorgan Chase are committed to seizing it with all of you,” said Tim Berry, global head of corporate responsibility and chairman of the Mid-Atlantic region for the company. “Through thick and thin, we are here for the long haul and ready to continue showing...