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1 week ago

Major US bank bets big on America's shipbuilding comeback with $24M investment

With the American merchant fleet down to fewer than 190 flagged vessels from a high of nearly 3,000 in the 1960s, a critical national security gap has left the U.S. heavily reliant on foreign shipbuilders.To help reverse this decline, JPMorgan Chase announced Wednesday it is injecting $24 million into Philadelphia’s maritime sector to help secure the defense supply chain, building a new submarine assembly facility and training thousands of workers for critical defense roles."America can compete and lead in shipbuilding again—it starts with more skilled workers and secure supply chains. We need...