United States Hispanic Chamber of Commerce Applauds The Global Cities Initiative

- Joint Project of Brookings and JPMorgan Chase to Fuel Economic Development -

WASHINGTON, Nov. 10, 2011 /PRNewswire-USNewswire/ -- The United States Hispanic Chamber of Commerce (USHCC) today commended the announcement of The Global Cities Initiative, a joint project of The Brookings Institution and JPMorgan Chase, aimed at helping civic and business leaders identify and leverage their city's greatest economic development resources.

The Global Cities Initiative brings together JPMorgan Chase's long standing investment in metropolitan development and The Brookings Institution's vast collection of metro-focused research.  Together these projects help civic and business leaders leverage their city's economic development resources in order to more effectively compete in the global marketplace.

Through a $10 million gift by JPMorgan Chase, the Initiative will aim to link U.S. metros to trading partners abroad - capitalizing on the growing middle class. The Brookings Institution will undertake unprecedented levels of research and analysis into metropolitan economies. Findings from the Initiative will serve as a platform for a series of joint forums, which will help promote the exchange of ideas and best practices for delivering jobs and development in cities at home and abroad.  This work will provide U.S. metropolitan leaders with tangible ideas for how to expand their competitive position, building on policy and practice innovations from across the nation and around the world.

"During these challenging economic times, the USHCC is pleased to see leading corporations such as JPMorgan Chase invest in the future of America. We commend Chase for their foresight and strategic thinking in building an initiative that creates economic development in communities where it is needed most," says Javier Palomarez, USHCC President and CEO.  "Business and government leaders in cities across the country will no doubt benefit from this program as they strive to grow and compete in the global market."

Over the next five years, the Global Cities Initiative will bring together key civic and business leaders through major conferences in the United States and internationally. The conferences will provide a platform to discuss and develop best practices and strategies for regional economic growth. Former Mayor Richard M. Daley has been appointed as a senior advisor to the firm to chair the Global Cities Initiative.

About the United States Hispanic Chamber of Commerce

Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of nearly 3 million Hispanic-owned businesses in the United States that combined generate in excess of $420 billion annually. It also serves as the umbrella organization for more than 200 local Hispanic chambers and business associations in the United States and Puerto Rico. For more information, visit www.ushcc.com.

SOURCE United States Hispanic Chamber of Commerce



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