FOX Business reports that Department contact Judison Atworth on the obstacles jpmorgan had to overcome to establish the New York City headquarters in New York on ‘The Big Money Show.’
JPMorgan Chase officially opened its new $3 billion headquarters in Midtown Manhattan, marking the largest investment in New York City’s Skyline. The opening comes as Wall Street leaders grow increasingly concerned about the City’s New Portrection’s economic future.
“Two hundred and fifty years ago, George Washington gave his inaugural address in Manhattan. And for 250 years, New York City has survived,” David Arena, Head of Real Estate and Real Estate at JPMorgan, told Fox Business. “There have been ups and downs. There have been good mayors, there have been no-may-second-big ones. And so we will survive.”
The new 60-story skyscraper will serve as the home base for more than 10,000 jpmorgan employees. The chief executive of the Bank, Jamie Dimon, called the project a Testament of cooperation between the government and business but also acknowledged that the city’s financial governance is under new pressure.
New York’s financial sector lost ground in the harvest
The world headquarters of JPMORGAN CHASE is owned by JPMORGANZI at 270 Park Ave. New York City.
JPMorgan Chame is one of New York City’s leading private employers, contributing approximately $42 billion annually to the local economy. But the company now employs more workers in Texas than in the Empire State, reflecting broader shifts in the financial sector.
“Every step of the way, this building has happened because of cooperation,” Dimon said Tuesday. “Governments can stop that, or they can make it happen. When you work together, you create jobs, you train people, you make your city proud.”
Morgan Chase’s new global headquarters is located at 270 Park Ave. New York City.
Despite the optimism, the city’s financial sector is shrinking. New York has lost more than 8,000 finance jobs this year alone, according to FOX Business Analysis. Those losses mean lower tax revenues and raise concerns among real estate leaders and investors.
The grand opening comes just two weeks before the New York City Mayoral election, where Frontrunner Zohran Mamdani, a self-described Democratic Democrat, has promised to raise taxes, freeze erent controls and expand affordable housing development.
Treasury mistake warns NYC: No bukhout under Mamdani – ‘Drop Dead’
Dimon has criticized some of Mamdani’s policy proposals but says he is willing to work with any administration. Still, the business community warns that an aggressive left-wing approach could accelerate the flight of high-paying jobs and investment in the city, in stark contrast to a decade ago.
New York City MaMerd visits Zohran Mamdani attending “This Story with Martha Maccallum” at Fox News Studios on October 15, 2025 in New York City. (John Lafarski / Getty Images)
Despite the growing concern, New York Gov. Kathy Hochul expressed confidence in the state as a Finance Hub.
Voters in Majpe Town English City View Less Than Socialism, FOX News Poll Finds
“I’m making this point,” said Hochul. “Don’t bet on New York. Don’t bet against New York City. Don’t bet on our financial services sector because we’re strong.”
Meanwhile, JPMORGAN required nearly all of its New York City employees to return to the office, helping to drive commercial demand for commercial retailers amid the post-pandemic recovery.
| It’s teasing | Security | – Last | Answer | change % |
|---|---|---|---|---|
| Jpm | Morgan Chase & Co. | 300.44 | +5.90 |
+ 2.00% |
The city’s office market is seeing its strongest activity in jobs in nearly two decades. According to the CCBE, 23.2 million feet of new office space was leased in Manhattan in the first nine months of 2025, the largest number at that time in 19 years.
Find FOX business on the go by clicking here
That momentum sets the pace for 2025 on pace to exceed 30 million square feet of annual leases, compared to 32.4 million square feet in 2018 and 31.6 million square feet in 2018.
“This is all about competition,” Arena said. “It’s not just competition here in the United States. We’re competing all over the world. People all over the world want what we’ve done for them, and they have to work to get it and share it with them.”
