JP Morgan Chase plans to bring hundreds of jobs to area, opening several local bank branches

PHILADELPHIA (WPVI) -- The country's biggest bank, JP Morgan Chase, plans to move into the Philadelphia area, bringing 300 jobs over the next 5 years.

Chase Bank will go from zero branches in the Delaware Valley to opening 50 sites.

The bank says its hundreds of jobs will pay at least $16.50 an hour plus benefits.

It also plans to invest $3 billion in small business lending and home loans for low-income neighborhoods, as well as spend $5 million on revitalizing the Kensington Avenue commercial corridor.

The first four branches to open before the end of the year will be in Camden, Wilmington, Villanova and Center City.

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