JPMorgan Chase is reportedly looking outside New York City as it continues to grow.
Bloomberg (limited page views) reportedon the possibility of adding jobs in lower-cost areas like Delaware, Plano, TX and Columbus, Ohio. Such reports have surfaced over the years, thanks in part to the high cost of doing business in New York City.
With a headcount of about 11,000, JPMorgan Chase is Delaware’s largest for-profit employer, trailing only 12,000-employee Christiana Care. The company is now beefing up its retail banking presence in northern Delaware.
It operates from multiple sites in northern Delaware that include its credit card headquarters in twin office towers in Wilmington and a technology hub at a former AstraZeneca site near Wilmington.
The company is moving into a new headquarters in Manhattan and publicly expressed confidence in its continued presence in New York City.
However, JPMorgan Chase has continued to expand outside New York.
Delaware and the Delaware Valley have an experienced financial services workforce that includes Delaware employees from Barclays who chose not to move to a site in northern New Jersey. New Jersey offered a bundle of incentives in luring Barclays to the higher cost location.
In the meantime, JPMorgan Chase acquired a tract in Chester County, PA, north of the Delaware line and has land available at a data center in the Bear area west of Wilmington. Plans for the Chester County site have not been disclosed. (See story below)