The Federal Deposit Insurance Corporation announced it has approved a $150 million investment in a new $100 million office space for Chase.
The Federal Deposit Offices (FDOC) is a non-profit entity that provides financial services to the public.
The company has been involved in lending to banks and insurance companies for more than 100 years.
The investment is being made to help the FDOC with its financial and technology needs.
The company said the new $10 million office is located in Washington, D.C. It is also in a prime location in the nation’s capital, making it the largest and most visible new office building Chase has opened in the country.
The investment is part of the $2.3 billion Chase has committed to expand its technology presence in the United States.
The new building will also allow the bank to expand technology offerings in the U.S., the company said in a statement.
The building, which will be known as the Chase Global Technology Center, is expected to open in 2020.
The FDOC also announced a $50 million investment to build a new medical office building in the Washington, DC metro area.
The $5 million project, which is currently under construction, is being funded through an $11 billion bond issue by the Federal Reserve.