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Y’all Street continues to grow with the addition of Morgan Stanley Services Group, Inc. establishing a new U.S. hub in Dallas, with a $684 million capital investment that will create more than 3,800 jobs, per the announcement from the Office of  Governor Greg Abbott. In addition to a Texas Enterprise Fund (TEF) grant of $43,849,500 and a Veteran Created Job Bonus of $40,000 extended to Morgan Stanley by the State, in June, the Dallas City Council approved up to $18.5 million in incentives as well as additional tax abatements for the company’s new building.

“Dallas’s selection as the home of Morgan Stanley’s new operations hub is a landmark investment in our city and another defining moment in the rise of Y’all Street,” said Dallas Mayor Eric L. Johnson. “I am proud to welcome Morgan Stanley to Dallas and grateful for this extraordinary vote of confidence in our city and its future. This investment reflects what we have worked hard to build in Dallas: a safe, business-friendly, opportunity-rich city where leading companies can invest, grow, and attract the world-class talent they need to succeed. The message to the business world is clear: Dallas has become one of America’s premier destinations for financial services and a place where ambitious companies come to build their future.”

Morgan Stanley affirmed the announcement with a statement from Executive Vice President, Chief Legal Officer, and Chief Administrative Officer Eric Grossman. "Morgan Stanley’s expansion in Dallas reflects our commitment to investing in markets that offer exceptional opportunities for growth, innovation, and talent. With a thriving financial services industry in Texas, we are excited to establish Dallas as a strategic hub for our firm to serve clients and attract top talent in the years ahead,” Grossman said. “We greatly appreciate the support of the State of Texas, the City of Dallas, and Dallas County and look forward to deepening our roots and contributing to economic growth in the state.”

Scoring Big for Dallas – Investing For the Future

DALLAS — The Dallas City Council voted to approve the Fiscal Year 2026-27 operating and capital budget totaling $5.66 billion, including the General Fund, Enterprise Funds, Debt Service, Capital, Grants, Trust, and Other Funds.  Of that total, the General Fund is $2.05 billion, which is $83 million, or 4.2% more than the budget adopted by the City Council last September. In addition, the Dallas City Council approved the budget for Internal Service Funds and the Employee Retirement Fund totaling $318.7 million.

Public Safety remains a top priority for the City of Dallas. The combined budget for the Dallas Police Department and Dallas Fire-Rescue increased by $82.3 million to fulfill commitments made to our first responders. Throughout this year’s budget process, we remained committed to listening to our residents. Community feedback, the annual Community Survey, and the guidance of the Mayor and City Council have shaped every major budget decision.

For the eleventh year in a row, the adopted Fiscal Year 2026-27 budget includes a property tax reduction. The 0.10 cent reduction lowers the tax rate from 69.88 cents to 69.78 cents per $100 valuation.

“This budget reflects the efficiencies we have worked hard to identify, uses new technologies to modernize how we deliver core services, and strengthens the partnerships that help us reach and provide services. We are aligning taxpayer dollars with the priorities residents expect; public safety, streets and infrastructure, libraries, housing, and parks while maintaining our commitment to strong fiscal stewardship,” said Dallas City Manager Kimberly Bizor Tolbert.

“With the City Council action, Dallas is better prepared not only to meet today’s needs, but to seize tomorrow’s opportunities for a safer, more vibrant, and more resilient city. I also want to add my thanks to the Dallas Team for all their support and sacrifice during the budget development process,” Tolbert added.

Budget Highlights:

• Strengthen police staffing by adding 750 officers over a two-year period, achieving a sworn staffing level of 3,651 by the end of FY 2026-27 and 3,800 by the end of FY 2027-28.

• Provide market-based pay and step increases in alignment with the market-based pay philosophy of meet and confer, increasing starting compensation for police officers to $83,822. When added to non-pension benefits, this places Dallas as one of the highest paid departments within the region while maintaining parity for our firefighters.

• Invest and improve 800 lane miles in FY 2026-27 with $142.8 million in funding. This will result in an increase from 759 lane miles in FY 2025-26.

• Advance roadway safety and strengthen Dallas’ transportation network by enhancing pavement markings, increasing bridge maintenance, delivering warranted signal projects, and advancing Vision Zero efforts to enhance operational safety on our roadway network by reducing severe crashes and fatalities.

• Expand “Dallas is Home” opportunities through public-private partnerships that increase production, preserve affordable units, support homeownership, and strengthen the homelessness ecosystem.

• Ensure the fiscal soundness of both the Dallas Police and Fire Pension System (DPFPS) and the Employee Retirement Fund (ERF) with increased City contributions.

The budget for Fiscal Year 2026-27 begins on October 1 and runs through next September 30.

The Texas Stock Exchange officially launched trading operations in the Uptown District, marking an important milestone in making Dallas a national financial hub.

As Dallas continues to grow as a destination for business, innovation, and investment, milestones like this reflect the strength of our local economy and the opportunities being created across our city.

We’re proud to see organizations choose Dallas to grow, invest, and create jobs and we’re excited to see what’s next. #YallStreet #DallasBusiness