Exclusive: Dimon, Farley, Gov. Whitmer on Rebuilding American Manufacturing

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Ford, JPMorgan Chase, and Michigan are partnering to connect manufacturers and startups with financing, customers, and government support. Ford plans to commit $1 billion in purchasing to firms developing capabilities such as advanced manufacturing and rare-earth magnets, while JPMorgan will provide lending as part of its supply-chain resilience effort.

Ford, JPMorgan and the state of Michigan are teaming up to connect manufacturers and startups with capital, customers and government support as the US tries to rebuild supply chains that were moved overseas. Ford CEO Jim Farley says his company will commit $1 billion in purchasing to companies developing capabilities in areas including advanced manufacturing, magnets and rare earths, while JPMorgan Chase CEO Jamie Dimon says the bank will lend capital through its broader security and resiliency push. Michigan’s governor Gretchen Whitmer is hopeful that the partnership will provide more opportunities for the state’s workforce. (Source: Bloomberg)