JPMorgan Chase & Co. announced plans Monday to renovate 33 floors of office space, build a new parking garage for Wilmington employees and fill 725 roles in Delaware.
The groundbreaking ceremony, attended by U.S. Sen. Tom Carper, U.S. Rep. Lisa Blunt Rochester, Wilmington Mayor Mike Purzycki and several senior Chase executives, reconfirmed the New York bank’s commitment to the First State that will include a massive modernization effort across its corporate campuses in Wilmington and Newark. JPMorgan (NYSE: JPM) said this will be its largest U.S. real estate and active renovation investment, behind only the ongoing development of its new Manhattan corporate headquarters at 270 Park Ave.
JPMorgan has five office locations in Delaware — three in Wilmington and two in Newark — with the bank owning four of them. The nation’s largest bank has over 11,000 Delaware employees, second only to ChristianaCare among private employers in the state.
Delaware is the headquarters for the bank’s credit card business and also houses a variety of back office operations and customer facing operations, including a fast-growing retail presence that began in 2019 as Chase launched a plan to add 50 branches in the Philadelphia region within five years.
Chase also has about 2,800 employees at a technology center opened in 2016 at 880 Powder Mill Road in Wilmington. Of the 725 job openings, Chase said about 200 will be technology roles at a time when giants such as Google and Microsoft are laying off tens of thousands of employees.