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FrontRow · Jul 16, 2026

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JPMorgan Chase CEO Jamie Dimon announced $24 million to revive American shipbuilding, including by helping finance a new submarine manufacturing facility at the Philadelphia Navy Yard. The money — $18 million in loans and investments and $6 million in grants — is part of the bank’s $1.5 trillion initiative to finance industries critical to U.S. economic and national security. “The arsenal of democracy has been reignited,” Dimon told CNBC’s Andrew Ross Sorkin.

JPMorgan Chase CEO Jamie Dimon announced $24 million to revive American shipbuilding, including by helping finance a new submarine manufacturing facility at the Philadelphia Navy Yard. The money — $18 million in loans and investments and $6 million in grants — is part of the bank’s $1.5 trillion initiative to finance industries critical to U.S. economic and national security. “The arsenal of democracy has been reignited,” Dimon told CNBC’s Andrew Ross Sorkin.

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