JPMorgan Chase announced Friday that it will commit $150,000 to Newark's Summer Youth Employment Program.

Newark is one of the cities the firm has sponsored for its five-year, $20 million commitment to support youth employment programs in 24 cities around the country.

"At the highest level, JPMorgan Chase believes that an inclusive economy in which more people have equitable access to opportunity is a stronger economy. And of course, there's no silver-bullet to get there, but summer youth employment opportunities are critical part of the solution," said JPMorgan Chase's Demetrios Marantis.

The goal for the program is to enroll at least 3,000 participants for 2022.