said<\/a> the expansion could bring more than $780 million in capital investment and thousands of high-paying jobs to the City.<\/p>\n\u201cNow, Morgan Stanley is considering Dallas for a new, large-scale U.S. operational hub that would bring with it over $780 million in capital investment and create up to 4,800 new, high-paying jobs,\u201d Johnson said, WFAA reported.<\/p>\n
Growth Of \u201cY\u2019all Street\u201d<\/p>\n
The potential move would further strengthen Dallas\u2019 growing reputation as a financial services center, often referred to as \u201cY\u2019all Street.\u201d<\/p>\n
Texas has become increasingly attractive to financial firms because of its business-friendly environment, lack of a state income tax, and expanding financial infrastructure.<\/p>\n
Dallas is already home to major corporations, including Texas Instruments, Southwest Airlines, CBRE Group, Energy Transfer, and Tenet Healthcare.<\/p>\n
The region\u2019s financial sector has expanded rapidly in recent years, with the creation of the Texas Stock Exchange, Nasdaq Texas, and NYSE Texas. JPMorgan Chase now employs more people in Texas than in New York.<\/p>\n
Johnson has made the expansion of the financial sector a key priority and led a delegation of business and civic leaders to New York earlier this year to promote Dallas as an investment destination.<\/p>\n
\u201cY\u2019all Street is more than a slogan,\u201d Johnson said, per WFAA. \u201cMy Administration is intent on growing Dallas\u2019s financial services sector in order to power a thriving economy that benefits all Dallas residents. I am grateful to my colleagues on the Dallas City Council for supporting that vision.\u201d<\/p>\n
If Morgan Stanley ultimately selects Dallas, the project would represent one of the largest corporate investments in the City\u2019s recent history and further cement North Texas as a major financial hub.<\/p>\n
Editor\u2019s note: Morgan Stanley has not yet made a formal announcement or a final commitment to Dallas. While the City has approved the incentives to strengthen its bid, the company could still select Alpharetta, Georgia, or delay its decision.<\/p>\n","protected":false},"excerpt":{"rendered":"Morgan Stanley signage at Times Square in New York | Image by Morgan Stanley\/website The Dallas City Council…\n","protected":false},"author":2,"featured_media":351336,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[102,104,103,109,125196,11100,7735],"class_list":["post-351335","post","type-post","status-publish","format-standard","has-post-thumbnail","category-dallas","tag-dallas","tag-dallas-headlines","tag-dallas-news","tag-downtown-dallas","tag-incentive-package","tag-morgan-stanley","tag-yall-street"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/351335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=351335"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/351335\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/351336"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=351335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=351335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=351335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}