Chicago and Miami are among five 'Advancing Cities,' according to jpmorgan
JPMorgan Chase's ambitious five-year, $500 million AdvancingCities plan has moved to five more cities.
"As we looked at each of these, every city brought something unique to the table, but all of them successfully built these local coalitions of public, private, and nonprofit leaders working to address a single challenge," AdvancingCities head Irene Baker told Business Insider. More than 250 groups applied to the annual contest."Even in cities where we didn't choose things for this, we see other opportunities to potentially collaborate," Peter Scher, the bank's head of corporate responsibility and one of Business Insider's
The winners had to demonstrate a plan to leverage $3 million in a way that would take advantage of existing momentum in each of the cities. They also had to have an infrastructure demonstrating at least two of seven traits .The investment will go to West Side United nonprofit, which will help connect low-wage workers to jobs in hospitals as well as support local entrepreneurs. Its proposal demonstrated how it would utilize existing partnerships with institutions in the West Side.
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