In Annual Letter, JPMorganChase CEO Jamie Dimon Shares Plans for State of Alabama

By Jamie Dimon | JPMorganChase

Investing in Alabama

For over 50 years, JPMorganChase has helped drive economic and job growth, support businesses of all sizes and put the American Dream within reach for more Alabamians. It’s clear that Alabama’s future is bright, and we are excited for what’s next.

We’ve been working hand in hand with local governments, businesses and community partners to understand how we can best use JPMorganChase’s full range of resources to complement their efforts. I was honored to meet with many of these leaders during our bus tour through Alabama last summer. The state’s expansive economic growth has opened up immense opportunity for the residents and businesses of Alabama.

We proudly serve more than 590,000 Consumer Banking customers, helping them buy homes and save for the future. We bank over 29,000 small businesses statewide, as well as key institutions like Auburn University, the University of Alabama, Children’s Hospital of Alabama and Infirmary Health System, among others. We also finance critical infrastructure, including a recent $730 million Alabama Highway Authority bond for the West Alabama Corridor project.

This year we are deepening our efforts in Alabama as part of our recently announced American Dream Initiative. This includes new programs and ideas that you’ll hear more about in the coming weeks and months, such as:

• Strengthening small businesses by expanding access to capital and providing expert advice, helping them compete for supply chain contracts and other opportunities.
• Equipping individuals to secure in-demand jobs in Alabama’s growing sectors, working with employers, colleges and other local partners to accomplish this.
• Helping families achieve their financial goals with new digital tools and education programs.

Many of these efforts align with our Security and Resiliency Initiative, a $1.5 trillion, 10-year plan to facilitate, finance and invest in industries critical to national economic security and resiliency. We expect this to benefit companies, workers and communities in Alabama, a leader in advanced manufacturing, aerospace and defense.

Supporting local businesses

Small and midsized businesses are the backbone of the state’s economy — the former alone employ nearly half of Alabama’s private sector workers. JPMorganChase will continue to help local entrepreneurs and businesses, like Astrion, headquartered in Huntsville, at every stage of their growth secure access to capital, supply chain opportunities and other essential resources to thrive.

This includes a recent $2 million philanthropic investment to launch the Alabama Capital Access Collaborative aimed to help small businesses gain improved access to capital and achieve greater efficiencies, as well as assist local community development finance institutions and other community lenders in improving their lending, investing and operational capacity.

Moving forward, we’re helping local small businesses overcome barriers to serving as suppliers in Alabama’s growing aerospace, defense and government industries by providing mentorship, capital and upskilling to compete for supply chain contracts. It can be costly and difficult for smaller companies to meet the requirements, including cyber readiness.

Additionally, we’re expanding our team of senior business consultants in branches across Alabama and providing more coaching and expert guidance on business planning, financial management and marketing.

Connecting Alabama workers to high-growth industries

A prosperous job market is the foundation of a strong economy — and in Alabama, demand is high for skilled workers, especially those who can perform technical work in the industries that are vital for America’s security and local economic growth.

With our support, the nonprofit Alabama Possible is working with community colleges to expand eight career advancement programs for adult learners in aviation, steel and aerospace. They’re also partnering with Alabama Power to support two accelerated training programs for HVAC technicians and utility line workers.

As we do more in Alabama, we intend to partner with additional community colleges and universities, business leaders, and groups that serve communities large and small to better connect local workers and employers. This includes expanding access to skills and job opportunities for veterans and strengthening apprenticeship pathways.

Expanding access to banking services

We’re working to help more Alabamians save money, build credit and achieve their financial dreams.

We are opening new branches in Decatur, Foley and Trussville this year as part of our plan to triple the number of Chase branches to 35 by 2030. We will also open our first Community Center in the state, which is designed with extra space for community events, financial health workshops, skills training and small business pop-ups. This effort will create more than 170 new jobs and help over 50% of the state’s citizens reside within an accessible drive of a Chase branch.

Through Chase Money Skills, Chase Secure Banking^SM and Chase First Banking^SM, we’re also helping people access digital financial tools and affordable banking products. Through our Birmingham-based Community Manager, we’re offering additional financial education and expanding our partnerships with community organizations and colleges. These collective efforts help with ways to boost credit scores and put residents on a pathway to homeownership.

By doing more in Alabama, we’re not just investing in the state’s economic future — we’re helping to secure America’s long-term economic resilience and security, with Alabama’s people and industries leading the way.

Serving Alabama since 1973

Our footprint includes:

Serving our clients and customers

• ~280 medium and large clients
• $15+ billion in credit and capital provided to medium and large clients since 2021
• 590,000+ customers supported with mortgages, auto loans, and savings, checking and credit card accounts
• 29,000+ small business customers
• 14 branches across the state, growing to 35 by 2030

Serving local institutions

• 17 government, higher education, healthcare and nonprofit clients throughout the state
• $5.1 billion in credit and capital provided to government, higher education, healthcare and nonprofit clients throughout the state since 2021
• 30+ regional, midsized and community banks provided services, helping them serve local communities
• $155 million in credit and capital extended to financial institutions, such as local and regional banks, since 2021
• $55+ million in financing for affordable housing construction and preservation in Alabama since 2020
• $730 million Alabama Highway Authority bond to advance the West Alabama Corridor project, widening the highway to four lanes and creating better access to services like healthcare, education and jobs

Serving the local economy and communities

• 150 company employees throughout the state, providing full-time employees with a minimum annual pay of $41,600 (plus an average annual benefits package worth over $21,000), compared with the statewide per capita income of nearly $36,100
• $9.5+ million contributed to the Alabama economy through goods and services purchased by the firm in 2025
• $6.5 million in philanthropic support provided since 2019

Jamie Dimon’s annual shareholder letter is widely seen as one of the most influential messages in the world of business — offering a clear, plain-spoken view of the world economy and the forces shaping it. In this year’s edition, the Chairman and CEO of JPMorganChase singles out Alabama as a place of special focus. Dimon says Alabama is an example of how regional investment, workforce development and infrastructure development can make a decisive difference.