News Story

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.”