Delaware Public Media

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Banking giant JPMorgan Chase officially completed its purchase of AstraZeneca’s 58-acre south campus in Fairfax Thursday.

The deal, reportedly worth $44 million, allows JPMorgan to expand its operations in the First State as AstraZeneca trims its workforce in Delaware. JPMorgan currently employs more than 7,500 in the state after adding more than 1,200 jobs over the past two years. The company has told state officials it wants to bring another 500 more positions to the state.

Delaware’s Council on Development Finance approved a million and a half dollar grant to banking giant JPMorgan Chase Monday.

The Strategic Fund grant will help the company with the $50 million in capital expenditures it intends to make in support its operations in the First State.

JPMorgan Chase says it plans to bring an additional 500 jobs to Delaware.

Alan Levin, the director of the Delaware Economic Development Office (DEDO), says those jobs would be a boon to the First State’s economy.