The new employees will be hired for technology, finance, asset management, and global data operations.
With the addition of new employees, J.P. Morgan Chase would become the state’s second largest private employer with close to10,000 employees. The company added 4,300 new jobs in industry over the last five years.
The move represent the largest single company job expansion in Delaware since 1990.
The proposed job expansion program is being backed by financing from the Delaware Economic Development Office, which will provide close to $3m every year for three years to the company.
The funding will be used to update, improve and expand J.P. Morgan Chase’s current facilities, while providing opportunities to construction workers who have been especially impacted by recent economic challenges.
Delaware will also provide up to $500,000 a year for three years to support training and complement investments made by J.P. Morgan Chase in its workforce.
Additionally, the Delaware Transit Corporation will provide $1m a year over three years to support enhanced regional transportation options, including more frequent train service between Wilmington and Philadelphia that will benefit employers throughout the region.
J.P. Morgan Chase Delaware chief administrative officer Bill Wallace said: "We are adding 1,800 jobs because Delaware is a great place to do business and a great place to invest in a workforce with the technology and financial skills that our company needs today and in the future.
"And we appreciate that the state has taken a national leadership position when it comes to developing a skilled workforce."
The company also plans to invest several hundreds of millions of dollars in economic activity through capital projects and supporting hundreds of construction jobs.
Image: J.P. Morgan Chase Delaware chief administrative officer announces job expansion. Photo: courtesy of news.delaware.gov.
