JP Morgan Chase announced on Wednesday that it will donate $7 million to the Denver Education Attainment Network to expand work-experience opportunities for students in industries with expected job growth, such as healthcare and information technology.
“Young people who participate in career pathways, including real work experiences and higher education connections, have better overall outcomes in education and the labor marketplace,” said Sarah Steinberg, vice president of global philanthropy for JPMorgan Chase.
The company plans to donate $75 million — which it repeatedly labeled an “investment” — in 10 states over five years. Denver is the first announced donation. A press release noted that globally, 20% of people aged 15 to 24 are neither employed nor in school, suggesting that “they will need alternative pathways to obtain the skills and experience necessary to succeed in the labor market.”
The announcement follows a $4 million donation that JP Morgan Chase made in 2016 to create the CareerResidency pilot program, which also focused on training students in high-demand skills.
The Denver Education Attainment Network is a collaboration between Denver Public Schools, the city and county of Denver, the Auraria campus and Emily Griffith Technical College that tries to boost college completion by ensuring that students’ career pathways align with their coursework.