JPMorgan Chase to Lend $24 Million for American Shipbuilding

July 16, 2026
DOD/Pentagon | On Base

JPMorgan Chase CEO Jamie Dimon announced $24 million in loans and grants to help revitalize American shipbuilding, a key area the Trump administration wants to ramp up. CNBC reported that the money will go towards a new submarine facility at the Philadelphia Navy Yard. 

“The arsenal of democracy has been reignited,” Dimon said. 

JPMorgan Chase has outlined plans to invest $1.5 trillion in industries it deems critical to the economy and to national security. Shipbuilding is included in that list of industries. 

Navy photo by Christy Trabun

July 16, 2026
DOD/Pentagon | On Base

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