Morgan Stanley is launching an expansion of its operations in Texas with the establishment of a major new financial hub in Dallas, a move which is expected to involve a total investment of about $1.3 billion and the creation of 3,800 jobs.
The multinational banking and financial services company intends to make a capital investment of $684 million in the new U.S. hub, and the project will also benefit from state support in the form of a $43.8 million grant from the Texas Enterprise Fund and a $40,000 Veteran Created Job Bonus.
Dallas has been striving for months to win the project. The Dallas City Council approved in June an extra $18.5 million incentive package with the aim of attracting Morgan Stanley’s expansion to the city.
In the first phase Morgan Stanley is going to occupy about 225,000 square feet at Fountain Place in downtown Dallas, under a four-year lease. It is expected that the company will have made a $97 million investment in the property by next year.
Morgan Stanley has also pledged to create at least 1,500 jobs in Dallas by 2031, the larger project is expected ultimately to result in 3,800 positions.
The new development contributes to the expanding financial services sector in North Texas, since Dallas and the areas around it are drawing in more banking, investment and financial companies. Moreover, the expansion may also give a boost to downtown Dallas, which has been suffering from a high number of office vacancies and competition from business districts in the suburbs.
Source: KERA
Author: James Hartley
Original Link: https://www.keranews.org/business-economy/2026-09-28/new-morgan-stanley-financial-hub-coming-to-dallas-as-firm-approves-1-3-billion-development?_amp=true