Texas city believes loose rules and low taxes will make the US’s biggest banks come running – can it pull it off?
As the warm sun rises over the Dallas skyline, SUVs and pickup trucks whiz past an unassuming construction site that is helping cement the city’s Texas-sized financial ambitions.
Nestled between towers claimed by Bank of America and JP Morgan, Goldman Sachs has cordoned off 800,000 sq ft for a new Dallas campus able to host more than 5,000 staff. But the $700m (£530m) project is more than a regional expansion plan by one of America’s largest banks. It is another win for the lobbyists behind Dallas’s “Y’all Street” – the Texan city’s aggressive push to steal New York’s financial crown.
Continue reading...
