The new jobs will be the biggest addition of jobs at one company since AstraZeneca moved its headquarters to Delaware in 1999.
By 2019, JP Morgan Chase will add 1,800 jobs in Delaware, according to an announcement from company officials Monday afternoon. The jobs include positions in technology, finance, asset management and global data operations.
“We are adding 1,800 jobs because Delaware is a great place to do business and a great place to invest in a workforce with the technology and financial skills that our company needs today and in the future,” said JP Morgan’s Chief Administrative Officer for Delaware Bill Wallace.
To lure the company to make the new hires in Delaware, the state will provide up to $9 million over three years to match 3 percent of the company’s capital expenses. The state will also spend $500,000 to support training for the company’s workers.
“We have a financial services and technology workforce that is second to none,” said Governor Jack Markell. “We are thrilled with today’s announcement to bring hundreds of millions of dollars of investment and 1,800 good-paying jobs to our communities.”
Along with the investment in workers and facilities at JP Morgan, the state will spend more than $3 million to improve regional transportation options. Part of that improvement will be more frequent train service between Wilmington and Philadelphia.
“Delaware’s financial services industry is stronger than it has ever been, and it is increasingly being driven by investments in technology,” said Bernice Whaley, the new director of the Delaware Economic Development Office.
The state’s financial sector has added 4,300 jobs over the past five years, an increase of 10 percent. With an additional 1,800 workers, the sector should have its highest employment level in the state’s history.
The new jobs will bring the total number of JP Morgan employees in Delaware to almost 10,000. That would make the company the second largest private employer.