JPMorgan Chase and CCSSO Announce $20 Million to Improve Career Education for Young People in 10 U.S. States

New Skills for Youth grants will help states improve access to
skills-based education and training for high-skill, well-paying careers

WASHINGTON–(BUSINESS WIRE)–The Council of Chief State School Officers (CCSSO) and JPMorgan Chase &
Co. today announced $20 million in grants to 10 U.S. states to
dramatically increase the number of students who graduate from high
school prepared for careers. Developed as part of JPMorgan Chase’s $75
million global New
Skills for Youth initiative, each winning state will work with
government, business and education leaders to strengthen career
education and create pathways to economic success.

Delaware, Kentucky, Louisiana, Massachusetts, Nevada, Ohio, Oklahoma,
Rhode Island, Tennessee and Wisconsin will each receive $2 million over
three years to expand and improve career pathways for all high school
students.

An independent advisory committee recommended the states to receive
grants from the New Skills for Youth initiative after a rigorous review
process. These 10 states demonstrated the strongest plans to work across
sectors to transform how they design and develop career preparedness
education programs and provide young people with the skills they need to
compete for high-skill, well-paying jobs. They have also committed to
bring together education leaders, business partners and community
partners to set ambitious benchmarks for achieving these goals.

“The number of young people who graduate from high school without the
necessary skills to compete is one of the greatest moral and economic
inequities of our time,” said Jamie Dimon, Chairman and CEO, JPMorgan
Chase. “These investments will help states build career education
programs that align with the needs of growing industries and give young
people a chance to succeed.”

“These states are leading the way to improve career pathways for all
kids through partnerships with communities, higher education and leaders
in industry,” said CCSSO Executive Director Chris Minnich. “I
applaud their efforts and look forward to working with these grantees
and other states across the country as they continue to strengthen
career preparation for kids.”

“Providing opportunities for all students to participate in high-quality
career readiness programs is critical to their future success and the
future of our country,” said Advance CTE Executive
Director Kimberly Green. “I am thrilled at the progress made by
these states and excited at the prospects this initiative offers for all
learners and all states.”

Too many students leave high school without being prepared for college
or a career. Nationwide, the unemployment rate for young people ages
16-24 is 9.3 percent, with many more working only part-time or in
low-wage jobs with little opportunity to advance. At the same time, the
U.S. economy is projected to produce millions of well-paying jobs over
the next decade, about two-thirds of which will require some
post-secondary education but not necessarily a four-year college degree.

For all states, this is an opportunity to work across sectors and pull
together stakeholders in business, industry, higher education and within
communities to research what has worked and what career pathways are
most needed for kids in their state.

These state grants are one part of the
$75 million, five-year New Skills for Youth initiative developed by
JPMorgan Chase, in collaboration with CCSSO, Advance CTE and Education
Strategy Group, aimed at strengthening career-focused education starting
in high school and ending with postsecondary degrees or credentials
aligned with high-skill jobs. In recent years, more than 40 states have
committed to transforming career education for all students. In March
2016, JPMorgan Chase and CCSSO awarded $100,000 grants to 24 states and
the District of Columbia for planning and early implementation of
long-term career readiness education programs that align with the needs
of area employers. These states received targeted coaching and support
to begin implementing these programs over the past year.

The grants awarded today represent the second phase of the New Skills
for Youth initiative. All of today’s recipients were selected from the
original 24 state grantees. These states will now leverage this
additional grant funding to execute the career readiness-plans they
developed during phase one of the initiative.

Delaware Governor Jack Markell:

“In Delaware this year, nearly 6,000 students in 38 of 44 public high
schools are enrolled in state-model pathway programs aligned to areas of
high demand in Delaware’s economy. This grant will support initiatives
like this that are critical to preparing all students for success after
high school. In the process, we will come closer to achieving our
Delaware Promise, which is that by 2025 the percentage of Delawareans
with a college degree or professional certificate will match the
percentage of our jobs that will require one – 65 percent.”

Delaware Secretary of Education Steven Godowsky:

“By earning industry-recognized credentials and college credits while in
high school, our students graduate prepared for success. This grant
supports the alignment of our education and workforce systems through
the Delaware Pathways initiative.”

Kentucky Governor Matt Bevin:

“If we are to achieve our goal of making Kentucky the hub of excellence
in engineering and manufacturing in America, we must work diligently to
be more economically competitive. Ensuring we have the most highly
skilled and well trained workforce is critical to this effort. The
current shortage of skilled workers, makes it difficult for Kentucky
employers to create and expand their businesses. This grant will ensure
career and technical education is better aligned with the needs of
employers and business leaders. This, in turn, will bring about
increased economic prosperity for both current and future generations of
Kentuckians.”

Kentucky Commissioner of Education Stephen Pruitt:

“We are excited to expand educational and economic opportunities for
young people across Kentucky. The initial New Skills for Youth grant
allowed us to really take stock of the career pathways we were offering
to ensure students receive the skills, knowledge and credentials they
need to compete for the hot jobs of the future. This second phase grant
will allow us to dramatically increase opportunities for Kentucky
students to complete rigorous and relevant Career and Technical
Education programs and earn industry-recognized credentials that will
prepare them for postsecondary success and high-skill, high-demand jobs
in our state.”

Louisiana Governor John Bel Edwards:

“This New Skills for Youth grant will provide tremendous support for our
state’s high school teachers and students in accessing high-quality
workforce training, particularly in rural school districts and in
support of our students with disabilities. I’m confident that
Louisiana’s team of state and local education, economic development and
workforce partners will make excellent use of these funds to
dramatically improve the number of our young citizens prepared for
college, career and life success. This grant funding will advance our
state’s efforts to create a seamless system of career and technical
education from secondary through post-secondary education, focusing on
those industry sectors essential to Louisiana’s prosperity.”

Louisiana Superintendent of Education John White:

“The Louisiana Department of Education looks forward to utilizing the
New Skills for Youth grant to expand Jump Start, the state’s premier
career and technical education program. These additional funds will
allow the state to build upon that program’s strong foundation by
further increasing the opportunities and resources that enable our
students to earn the credentials needed to attain employment in
Louisiana’s most promising industries.”

Massachusetts Governor Charlie Baker:

“Our administration has focused on aligning our K-12 schools and higher
education system with the needs of our workforce so that our students,
employers, and communities will share a stronger future. Lieutenant
Governor Polito and I are honored that Massachusetts and the potential
of our students will be recognized through this grant.”

Massachusetts Elementary and Secondary Education Commissioner Mitchell
Chester:

“I am thrilled that Massachusetts students will be among the
beneficiaries of this generous grant. I look forward to continuing our
collaboration with educators and industry to set students on a clear
path toward their own career goals.”

Nevada Governor Brian Sandoval:

“Nevada was hit harder than any state in the nation by the Great
Recession. That’s why my strategic priorities when I took office were to
build a vibrant and sustainable economy in addition to ensuring we have
an educated and healthy citizenry. The New Skills for Youth grant is
another wonderful resource that will help Nevada refocus and transform
its economy.”

Nevada Superintendent of Public Instruction Steve Canavero:

“The New Skills for Youth grant will provide additional support to
Nevada and ensure our students gain the skills necessary to compete for
jobs in the emerging new Nevada economy. It ensures that our education
system and other agencies across the state are aligned with the demands
of industry and by working together there will be an increase in the
number of students completing relevant and effective career pathways in
high demand and high skill areas.”

Ohio Governor John Kasich:

“Getting kids excited about job opportunities can begin to capture their
imagination. By connecting employers with qualified workers, we’re
changing the lives of our students and strengthening Ohio’s economy.”

Ohio Superintendent of Public Instruction Paolo DeMaria:

“In Ohio, we want every student to see a connection between what they
are learning and future career options. Ohio’s Governor John Kasich
observed that, ‘Getting kids excited about what the job opportunities
are, when presented in an exciting way, can begin to capture their
imagination.’ The New Skills for Youth grant will drive a comprehensive
and strategic approach to excite and inspire every student about career
opportunities and students’ future success. Ohio’s strong business and
education partnership will have a tremendous new opportunity to expand
the rich array of career-focused assets resulting in a deep impact on
individual lives and the prosperity of our state.”

Oklahoma Governor Mary Fallin:

“A postsecondary degree, credential or certificate is the new minimum
for success in the workforce. The New Skills for Youth Grant builds on
my Oklahoma Works Initiative to align education to the needs of the
workforce. Through increased cooperation between business and education
stakeholders, the grant will put students on a pathway to provide
Oklahoma’s employers with a future-ready workforce.”

Oklahoma Superintendent of Public Instruction Joy Hofmeister:

“As Oklahoma continues to recover from a recession, the $2 million in
funding over three years will help us fast-track college- and
career-readiness initiatives including redefining the senior year,
securing braided funding and creating a career advising toolkit for
Oklahoma students. We are grateful to be partnering with the Governor’s
Council for Workforce and Economic Development, the Oklahoma Department
of Career and Technology Education, the Oklahoma State Regents for
Higher Education, the business community and school districts around the
state on this work that is so critical to our students’ success and
future economic development in our state.”

Rhode Island Governor Gina Raimondo:

“Rhode Island’s New Skills for Youth grant is intended to turn our bold
vision for improving career readiness in K-12 education into a reality.
We are honored to have been recognized for our vision to prepare Rhode
Island students for good-paying jobs in our state’s leading industries.
By creating pathways between our existing K-12, higher education and
workforce development systems, we will meet the needs of our existing
employers while also providing jobs that pay for Rhode Islanders.”

Rhode Island Education Commissioner Ken Wagner:

“We’re committed to offering students opportunities that will strengthen
their educational foundation, including early college offerings,
career-and-technical education programs aligned to industry standards,
and hands-on learning experiences that will prepare them for success in
the workforce of tomorrow. This grant affords a wonderful opportunity
for us to accelerate our work and link high-quality programs to students
that will have lasting benefits for our region and state.”

Tennessee Education Commissioner Candice McQueen:

“Our work in K-12 education is to prepare students for success beyond
our classrooms, and Tennessee is fully committed to strengthening
postsecondary and workforce readiness for all students. Funding from
this grant will allow us to expand opportunities for students to access
early postsecondary opportunities that can equip them for jobs and open
doors for them as they graduate from high school, particularly in rural
or economically distressed areas and in expanding industries. The grant
will also better equip our state to invest more in research and analysis
to ensure we are learning from what works and using evidence-based
practices to drive students’ success.”

Wisconsin Governor Scott Walker:

“As we move forward, one of things we want to focus on is ensuring the
next generation of Wisconsin workers possess the practical skills and
knowledge they need to thrive in their careers. The New Skills for Youth
grant helps jump start this process by helping students think about,
plan for, and implement a strategy to reach their career goals at an
early age. Thanks to the Council of Chief State School Officers and
JPMorgan Chase & Co for this opportunity.”

Wisconsin Superintendent of Public Instruction Tony Evers:

“One of my biggest priorities for Wisconsin schools is connecting
educational experiences to the workplace. This grant gives us a chance
to bring our education partners together with private businesses to
build a structure that will benefit kids in whatever profession they
choose. I want to thank JPMorgan Chase and our Wisconsin partners for
their work to make this a reality.”

Through several targeted philanthropic initiatives, JPMorgan Chase is
investing over $325 million in skills development around the world. In
addition to the New Skills for Youth initiative, these investments
include a separate five-year, $250 million global initiative called New
Skills at Work to help fill the skills gap for employers and
simultaneously provide adult workers with a real and tangible pathway to
economic opportunity, as well as a $5.8 million effort to support summer
youth employment programs for youth around the country.

New Skills for Youth also builds on CCSSO’s Career Readiness Initiative,
which is guided by the recommendations made in Opportunities
and Options, a report of CCSSO’s Career Readiness Task Force. The
goal is to ensure that all students are not only college-ready, but also
graduate from high school prepared for careers in high-skill,
high-demand fields.

About CCSSO

The Council of Chief State School Officers (CCSSO) is a nonpartisan,
nationwide, nonprofit organization of public officials who head
departments of elementary and secondary education in the states, the
District of Columbia, the Department of Defense Education Activity, and
five U.S. extra-state jurisdictions. CCSSO provides leadership,
advocacy, and technical assistance on major educational issues. The
Council seeks member consensus on major educational issues and expresses
their views to civic and professional organizations, federal agencies,
Congress and the public.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services
firm with assets of $2.5 trillion and operations worldwide. The Firm is
a leader in investment banking, financial services for consumers and
small businesses, commercial banking, financial transaction processing,
and asset management. A component of the Dow Jones Industrial Average,
JPMorgan Chase & Co. serves millions of consumers in the United States
and many of the world’s most prominent corporate, institutional and
government clients under its J.P. Morgan and Chase brands. The firm uses
its global resources, expertise, insights and scale to address some of
the most urgent challenges facing communities around the world including
the need for increased economic opportunity. Information about JPMorgan
Chase & Co. is available at www.jpmorganchase.com.

Contacts

Media:
Council of Chief State School Officers
Olympia Meola
olympia.meola@ccsso.org
or
JPMorgan
Chase & Co.
Stephanie Bosh
Stephanie.a.bosh@jpmorgan.com