JPMorganChase is launching a new $1.5 trillion, 10-year plan to strengthen industries vital to America's national security and economic resilience — from critical minerals to semiconductors and strategic technologies like cybersecurity and AI.

Why it's important: The Security and Resiliency Initiative comes at a time when the U.S. is looking to modernize infrastructure, shore up supply chains and implement policies that promote growth.

• The initiative will help create economic development, innovation and jobs in America.

💬 What Jamie Dimon is saying: "It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing — all of which are essential for our national security," said the chairman and CEO of JPMorganChase.

• "Our security is predicated on the strength and resiliency of America's economy. America needs more speed and investment. It also needs to remove obstacles that stand in the way: excessive regulations, bureaucratic delay, partisan gridlock and an education system not aligned to the skills we need."

The strategy: As part of the initiative, JPMorganChase will make up to $10 billion in direct equity investments in select companies, primarily in the U.S. The initiative will help support growth, spur innovation and accelerate strategic manufacturing.

The firm will focus on four key areas:

• Supply chain and advanced manufacturing: critical minerals, pharmaceutical precursors and robotics.
• Defense and aerospace: defense technology, autonomous systems, drones, next-gen connectivity and secure communications.
• Energy independence and resilience: battery storage, grid resilience and distributed energy.
• Frontier and strategic technologies: AI, cybersecurity and quantum computing.

💊 An example: U.S. drug manufacturers rely heavily on foreign sources for active ingredients that go into medications. In fact, 77% of those facilities[1] are overseas.

• This presents an opportunity for America to rebuild and invest in manufacturing life-saving pharma ingredients and avoid supply chain challenges and shortages.

💡 Another example: The U.S. energy grid is rapidly aging and ill-equipped to handle the increasing demand from AI and advanced manufacturing.

• Strategic investment can modernize transmission lines, harden energy systems and reduce blackout risks.

Take note: Policy will play an essential role. JPMorganChase will advocate for policies that accelerate these efforts, including:

• A permitting process that takes months, not years.
• Expanding vocational and apprenticeship programs to close the manufacturing skills gap.
• Long-term incentives for private investment in these critical industries.

Next steps: Given the significance of this initiative, the firm will hire more bankers, investment professionals and other experts.

• An external advisory committee of leaders from the public and private sectors will also be created to help guide the long-term strategy.
• Additionally, the initiative will include new research on private companies and supply chain management issues related to rare earths, AI and technology. JPMorganChase's recently launched Center for Geopolitics will provide timely insights and analyses on global trends.

💬 Looking ahead: "As America has in the past, we will all come together to address these immense challenges," Dimon said. "We need to act now."

Get more details on the initiative.

📍 Zoom in: Explore the local forces shaping America's economy.