JPMorgan Chase to announce more investments in Detroit

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DETROIT (AP) - JPMorgan Chase will announce investments of more than $1.5 million for city small businesses during Detroit Startup Week. The conference for entrepreneurs starts Monday.

The bank is putting $780,000 into TechTown, $410,000 in the Accounting Aid Society and $360,000 into the Great Lakes Women's Business Council.

JPMorgan Chase says small business investments are a core part of its $150 million investment to aid Detroit's economic recovery.

TechTown will use the funds to help entrepreneurs interested in opening new retail establishments in Detroit neighborhoods. Over the next two years, the business incubator hopes to help 250 small businesses.

The Accounting Aid Society will assist 400 small businesses -- especially in low- to moderate-income neighborhoods, while the Great Lakes Women's Business Council will use the investment to help about 20 small businesses.