JPMorgan Chase has a $500 million plan to reduce the widening economic divide in American cities.
The recently-announced AdvancingCities competition is a five-year project to invest in strategies that promote inclusive growth and seed big development ideas in 30 cities. Half of the investment will come through philanthropy and the other half low-cost, long-term capital commitments.
It’s aimed at building four areas: small business, neighborhood revitalization, financial capability, and jobs…
