Tim Berry, global head of corporate responsibility at JPMorganChase, dives into the firm's community impact model — why it's important, how it took shape and what's ahead.

For more than 225 years, JPMorganChase has served as an engine of the economy and champion of opportunity in local communities around the globe.

Why it's important: Through good and challenging times, we have used our expertise and fortitude to create local impact, improve financial systems, and catalyze economic growth that touches the lives of our clients, customers, and employees.

The reason: We do this because we believe companies — and banks in particular — have a role to play in strengthening the communities they serve.

• Doing so enhances their general economic well-being, drives long-term shareholder value and is good for business. As we've seen again and again, our company thrives when communities thrive.

How it's done: We are not just committed to delivering for communities — we are built for it.

• With team members around the globe, we bring together local leaders in the public, private and nonprofit sectors to understand what's happening on the ground and how JPMorganChase can help identify and implement solutions.
• Recognizing there is no one-size-fits-all approach, our local strategies are informed by global insights that are intentionally tailored to the local context, whether that's a region, neighborhood or even city block.

An example: We started developing this model more than 10 years ago, when we made a historic $200 million investment in Detroit's economic recovery after the city filed the largest municipal bankruptcy in U.S. history in 2013.

• This was one of our most comprehensive and integrated business and philanthropic investments to date, and we learned important lessons along the way.

Seizing this opportunity to test how private capital could help solve big economic challenges, we leveraged extensive research and data to guide our approach as we focused on the areas where we could deploy our own expertise to make a significant impact, including:

• Neighborhood revitalization and affordable housing.
• Skills training and job creation.
• Small business growth.
• Financial security for residents.

The result: This framework has helped inform and inspire the firm's commitment to communities around the world, from Paris to Washington, D.C. — where we have expanded our business while making investments aligned with local needs and priorities to create economic opportunities.

• Everywhere we go, we strive to apply our unique expertise, insights and resources to help address economic and societal challenges.

Looking ahead: With this sense of purpose and mission in mind, we are thrilled to continue our work of developing insights for tackling systemic issues in communities that can be replicated and scaled.

• With our public-private partnerships, we can leverage successful programs and the impact we have achieved in communities as intellectual capital to share with local leaders and other experts looking to institute sustainable solutions.

Next steps: We're excited to join the United States Conference of Mayors in Washington, D.C., and follow with a year-long series of convenings in Chicago, Austin, Columbus, San Francisco, Boston and Atlanta.

Our conversations will focus on issues that drive inclusive economic growth, including:

• Fueling business growth and entrepreneurship.
• Supporting neighborhood development.
• Developing the workforce of tomorrow.
• Expanding economic mobility.

We know the importance of showing up in local communities to listen and scale solutions that work. We look forward to doing just that with our partners on the ground over the coming year.

Learn more about JPMorganChase and the Zoom In series.