NEW YORK--(BUSINESS WIRE)--
New philanthropic investment to provide professional development and skills training for veterans in San Jose, CA, Jersey City, NJ and Dallas, TX
JPMorgan Chase today announced a $2.3 million, two-year commitment to NPower to provide technology-focused job training to more than 700 veterans in San Jose, CA, Jersey City, NJ and Dallas, TX. With JPMorgan Chase’s support, NPower will provide in-demand digital skills training and job placement services to support veterans in successfully transitioning into the civilian technology job market in growing areas such as cybersecurity and coding.
As of 2015, 53 percent of post-9/11 veterans will experience unemployment, with minority veterans having a 44 percent higher risk of unemployment than non-minority veterans. Meanwhile, there are over 700,000 unfilled technology jobs in the US, meaning that digital skills are in high demand. In fact, LinkedIn recently found that technical skills like cloud computing and artificial intelligence are what companies need the most in 2019.
“The men and women who serve our country through military service make sacrifices and commit themselves to excellence in duty. It is only right that we help make their transition to civilian careers as successful as possible. At NPower we remain committed to providing free technology upskilling, professional development and job placement for our country’s veterans,” says Bertina Ceccarelli, CEO of NPower. “The resilience, creative problem solving abilities and technical acumen demonstrated by veterans make them excellent candidates for high-growth tech careers; we simply provide the skills and connections they will need to secure the jobs of the future.”
Building on JPMorgan Chase’s long-standing commitment to facilitating sustainable, post-service success for veterans and their families and as part of its $350 million, five-year commitment to meet the growing demand for skilled workers, the firm is collaborating with NPower to address the veteran unemployment rate and prepare veterans with the skills they need for in-demand technology jobs – where most will experience a 70 to 200 percent increase in salary.
The $2.3 million philanthropic investment in San Jose, CA, Jersey City, NJ and Dallas, TX will support veterans in three training programs:
- Tech Fundamentals: Over 260 hours of hands-on classroom curriculum, 220 hours of paid technology-based internships and 60 hours of soft skills professional development.
- Cybersecurity: 14 to 18 weeks of training, including over 50 hours of professional development, and 12 weeks of paid internships with leading, collaborating companies like Federal Reserve Bank, KPMG, Broadridge and TD Ameritrade.
- Coding: 13 weeks of three-day, instructor-led training, professional development and online learning and labs to learn the fundamentals of coding.
Specifically, the program in San Jose, CA will receive $275,000, Jersey City, NJ will receive $580,000 and Dallas, TX will receive $884,000 over two-years.
“As a former Marine and Combat veteran, with a wife and three children we had lost everything. NPower offered me much more than I could have ever hoped for and they made me feel as if my service to this country was truly appreciated. I got the tools necessary to start a promising career that would help financially secure my family’s future,” says Ivan Alvarado, NPower graduate and Associate Technology Support Analyst at Deloitte.
In addition to its philanthropic support, JPMorgan Chase technologists contribute to NPower’s constantly evolving curriculum to ensure that the material being taught is directly aligned with the hiring needs of local companies.
A History of Impact
JPMorgan Chase has a long-standing commitment to facilitating post-service success for veterans and their families through meaningful employment opportunities, career development and access to small business resources and other critical support services.
The firm has hired more than 15,000 veterans since 2011 – more than 1,800 of which have been hired in Texas. In addition, the firm leads the Veterans Jobs Mission to promote veteran career success across major industries in the United States. Boasting more than 200 companies, the coalition has hired over 550,000 veterans and is working toward hiring 1 million.
“While each veteran’s experience is unique, we find that employment is often the biggest transition,” says Mark Elliott, Head of Military and Veterans Affairs at JPMorgan Chase. “We’re committed to supporting service members as they shift to civilian life, and we know that securing a well-paying job, and more importantly the skills for that job, is critical to this transition.”
This new commitment builds on JPMorgan Chase’s past support for NPower that has placed over 4,000 veterans and young adults in foundational and advanced trainings to develop in-demand skills.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (JPM) is a leading global financial services firm with assets of $2.8 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
NPower is a national nonprofit that offers free tech training and is focused on enhancing the economic situations of veterans and young adults from underserved communities by placing them in quality tech jobs. Students who graduate from their six-month program earn industry-recognized certifications and the same knowledge as an IT professional with one to two years of experience. NPower also places students in paid internships with corporate and nonprofit organizations through which most graduates get a full-time job. The nonprofit is boosting economic growth not only at the individual level but also at the national level. It is improving the American labor economy and leading the shift towards tech labor. To learn more about NPower, visit www.npower.org.