JPMorgan Expands Presence in Orlando, Plans to Hire 300 New Employees
The largest US bank, JPMorgan, has announced plans to hire 300 new employees in the Orlando area over the next two years, as part of its expansion in the South.
Renovation of Existing Campus
The firm will renovate its 250,000-square-foot (23,226-square-metre) campus in central Florida, which currently houses over 2,000 employees mainly from its Chase consumer banking and credit-card servicing divisions. The renovation will create 400 construction jobs and contribute roughly US$280 million to the area’s economy, JPMorgan said on Tuesday (Dec 3).
Opportunity for Business Diversification
“Orlando is known as one of the world’s premier locations for fun and entertainment, but the opportunity for business diversification in our region extends far beyond that,” said Vikas Kapoor, head of operations for Chase for Business, who’s based in the Florida city.
Expansion in Florida and Texas
JPMorgan has been adding to its presence in Florida and Texas, with chief executive officer Jamie Dimon criticising areas including New York City for not doing enough to attract investments.
The bank doubled its Miami offices earlier this year and is expanding the downtown Tampa outpost, as well as renovating a campus on that city’s outskirts. In Texas, JPMorgan added office space in Dallas and Austin.
Additional Investments in Florida
Other investments in Florida include 13 new Chase branches in Orlando and the Cape Canaveral area, as well as a US$500,000 donation to a local training programme for the semiconductor industry, the bank said. In total, JPMorgan employs 14,200 people in Florida.
Conclusion
JPMorgan’s expansion in Orlando is a significant development for the region, bringing new job opportunities and economic growth. The bank’s commitment to investing in the area is likely to have a positive impact on the local community and contribute to the region’s continued growth and development.
FAQs
Q: How many new employees will JPMorgan hire in Orlando?
A: JPMorgan plans to hire 300 new employees in the Orlando area over the next two years.
Q: What is the scope of the renovation of the existing campus?
A: The renovation will create 400 construction jobs and contribute roughly US$280 million to the area’s economy.
Q: Which areas is JPMorgan expanding in besides Orlando?
A: JPMorgan is expanding in Florida and Texas, with additional office space in Miami, downtown Tampa, and Austin, as well as renovations in Dallas.
