JPMorgan Chase & Co. (NYSE: JPM) shares might have taken a step back on Tuesday, but this comes on the heels of the megabank’s long-term investment plan. With this plan, the bank is looking to help its employees and support job and local economic growth in the United States. And all this was possible due to the recent changes in the U.S. corporate tax system.

Overall, JPMorgan is making a $20 billion investment in its employees over the next five years. Through this new investment, the firm will develop hundreds of new branches in several new U.S. markets, increase wages and benefits for hourly U.S. employees, make increased small business and mortgage lending commitments, add 4,000 jobs throughout the country and increase philanthropic investments.

Keep in mind that JPMorgan isn’t the only company that is focusing its return on employees. Apple is planning on adding thousands of jobs and billions in investment capital in the United States as well.

According to the plan, the $20 billion investment will focus on the following key areas:

1. Investing in employees with further increases to wages and benefits. Wages will increase 10% on average – ranging from between $15 and $18/hour – for 22,000 employees.
2. Expanding the branch network into new U.S. markets, leading to increased small business lending and philanthropic investments, and further support for local low-and moderate- income communities.
3. Increasing community-based philanthropic investments by 40% to $1.75 billion over five years.
4. Increasing small business lending by $4 billion.
5. Accelerating affordable housing lending by (a) increasing mortgage lending in low-and moderate-income communities and (b) accelerating commercial lending to build affordable housing.

Jamie Dimon, board chair and chief executive, commented:

Having a healthy, strong company allows us to make these long-term, sustainable investments. We are excited about further investing in our outstanding workforce and expanding into new U.S. markets. When we enter a community, we enter it with the full force of JPMorgan Chase behind it. We hire people. We lend to and support local businesses. We help customers with banking, lending and saving. And we align our business and philanthropic efforts to help more communities benefit from a growing economy. This company has made a significant economic impact in all of the communities we operate in, and we are excited to become an even more relevant part of many others.

Shares of JPMorgan were down 0.8% at $113.45 Tuesday morning, with a consensus analyst price target of $117.39 and a 52-week trading range of $81.64 to $114.50.

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