Stories

SaveSave story

Jamie Dimon: invest in the Rust Belt

Jamie Dimon in Detroit. Photo: Rick Osentoski / Invision for JPMorgan Chase Co. via AP

Jamie Dimon stressed the importance of investing in the middle of the country at Fortune and TIME's CEO Initiative Monday. "Lots of communities are suffering. We need to do more to create jobs and opportunities ... 85% of jobs are private enterprise," Dimon said. In 2014, J.P. Morgan Chase invested $100 million in Detroit's entrepreneurs and small businesses.

The bottom line: 75% of U.S. venture capital dollars go to 3 states, per Revolution CEO Steve Case. Lack of investment in the middle of the country has left large parts of America behind, Axios' Kim Hart reports.