BALTIMORE — To carry out his plans for Baltimore’s renaissance or rebirth, Mayor Brandon Scott knows he’ll need some help.
“The city can’t do it alone. GBC can’t do it alone. BUILD can’t do it alone,” said Scott.
To that end, JPMorgan Chase is ready to make a large investment in nonprofits and programs to encourage economic and community development.
“I am proud to announce that JPMorgan Chase is committing 8.5… 8.45 million in philanthropic capital to continue supporting economic community development in Charm City,” said Global Head of Corporate Responsibility Tim Berry.
The brainchild of Bree Jones, Parity Homes has benefited from such investments in recent years, renovating much of a block in West Baltimore while helping to right old wrongs.
“There were harmful practices like redlining and tax sales and urban renewal like the Highway to Nowhere that really decimated once-thriving communities,” said Jones, “and so this opportunity that we just announced is about healing.”
A million dollars of JPMorgan Chase’s new investment will also be matched by the city to help revitalize commercial corridors like on West North Avenue.
Once filled with thriving businesses, the goal will now be to offer incentives for entrepreneurs to fill vacant storefronts pumping new life into areas after decades of neglect.
