JPMorgan Chase & Co., the largest U.S. bank, is doubling the size of its Miami office and expanding across Florida in a sign of the region's importance to the financial institution.

The New York-based bank plans to expand its Miami office at 1450 Brickell Ave. from 80,000 square feet to 160,000 square feet over the next two years. An additional 400 employees are expected to join the bank's current staff of more than 500 workers at the tower once the renovation and expansion is complete.

Construction plans include adding "a world-class meeting and function space to host client and employee events" as well as refurbished work floors with state-of-the-art technology and furniture, updated meeting rooms, common spaces, restrooms and pantry areas, according to a statement from JPMorgan. Farther north in West Palm Beach, JPMorgan plans to open a 13,000-square-foot office at 360 Rosemary, a tower developed by billionaire Stephen Ross’ Related Cos. where firms such as BlackRock and Goldman Sachs also have offices.

JPMorgan's plans are the latest in a long line of expansions and relocations in South Florida from finance companies since the pandemic got underway in 2020. More than 100 companies have moved into the market during that time, including finance heavyweights like Blackstone, Goldman Sachs, which recently occupied two floors at the Southeast Financial Center, and billionaire Ken Griffin's hedge fund Citadel, which just added two extra floors to a planned office in Miami's financial district.

The expansion by JPMorgan in South Florida comes at the same time other large banks have shut down branches or consolidated offices across the country. In March, Bank of America announced it would vacate 13 floors at Charlotte, North Carolina's Fifth Third Center an entire year before its lease expired. And last October, Wells Fargo said it would close 15 locations across 11 states

JPMorgan also closed a number of First Republic Bank locations after it acquired the failed bank last year. But now JPMorgan is planning to open more than 20 J.P. Morgan Financial Centers across the country, many of which are former First Republic offices that will be "converted into an entirely new experience," according to the statement.

The West Palm Beach for JPMorgan office will bring together more than 60 employees who were previously working throughout Palm Beach County. Three branches in Palm Beach County will open by early next year for the bank that has $4.1 trillion in assets, more than any other in the country.

“Miami and South Florida are home to an increasing number of our clients, customers, community partners and employees, and a strategic location for our operations in Latin America as well,” Jonathan Bello, head of Chase for business in Miami and co-chair of the firm’s South Florida market leadership team, said in a prepared statement.

JPMorgan is one of the largest private employers in South Florida with more than 3,000 employees, according to the bank. Florida is one of the company's largest employment hubs with 16,400 employees. Still, the Sunshine State ranks behind JPMorgan's main employment hubs like New York and Texas where more than 20,000 employees work in each state.

According to JPMorgan’s estimates, the company’s expansion across South Florida will provide an average $151 million in additional economic activity and support about 380 local construction jobs per year. The company currently generates $1.93 billion for the Florida economy.

The investment is part of the financial services company's organic expansion plans and reinforces South Florida as one of JPMorgan's "key strategic regions" in the country, according to the statement and a spokeswoman for the bank. JPMorgan is not receiving any incentives from state or local governments for the expansion, the spokeswoman told CoStar News in an email.

Elsewhere in the state, the bank is in the process of executing a significant investment at its Tampa Corporate Center offices, and is planning to open new offices in Sarasota, Fort Myers and Melbourne, according to the statement.

JPMorgan serves over 6.2 million consumers and 678,000 small businesses throughout Florida. The company recently announced a $1 million donation to Florida Memorial University, South Florida’s only historically black college or university, to help traditionally under-resourced students pursue a career in technology.

Alongside JPMorgan's local philanthropic efforts, the bank has been raising its brand awareness by pairing with another giant — this one in the sports arena. The company partnered with Miami's Major League Soccer team Inter Miami CF, founded by David Beckham and where soccer legend Lionel Messi currently plays, in a deal that includes naming rights for Chase Stadium.

“Like our investment with Inter-Miami CF to create Chase Stadium, these expansions reflect the opportunity that this area represents as well as our commitment to be the bank for all in South Florida," Bello said in the statement.

Leasing at 1450 Brickell is handled by Tere Blanca and Danet Linares of Blanca Commercial Real Estate. Leasing at 360 Rosemary is handled by Jon Blunk of Tower Commercial Real Estate. Terms of JPMorgan's leases and the brokers the bank used were not disclosed.