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Story summary
- JPMorgan Chase CEO Jamie Dimon announced a $24 million effort to revive American shipbuilding.
- The package provides $18 million in loans and $6 million in grants for a new submarine facility at the Philadelphia Navy Yard built by Rhoads Industries.
- The initiative also expands lending to maritime-related small businesses and strengthens regional suppliers.
- Dimon linked the effort to JPMorgan’s $1.5 trillion security initiative, which has recently been broadened to Europe amid rising geopolitical tensions.
