Financial services giant Morgan Stanley is expanding in a huge way outside of its base in the Empire State of New York. The firm chose Dallas over the Atlanta market of Alpharetta in the fall quarter for a major shift in operations. The deal falls in line behind several massive financial services relocations from New York to Texas over the last several years.
Morgan Stanley will relocate 4,800 jobs to Texas by 2031. The $1.3 billion deal will include a new 709,000-square-foot skyscraper in Dallas. Dallas/Fort Worth’s success in capturing financial services deals has some now calling the metro “Y’all Street.” The project garnered the largest incentive package in Texas history.
