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Abbott says Dallas is emerging as a U.S. financial hub as exchanges expand regionally
Summary
Asked about recent moves by exchanges, Governor Greg Abbott credited Dallas's business infrastructure and workforce for attracting regional offices from NASDAQ and other exchanges and said the region is becoming a major U.S. financial center.
Reporters asked Governor Greg Abbott about recent announcements from financial exchanges, and Abbott said Dallas has become a national center for financial services.
A questioner referenced three recent developments: a regional NASDAQ announcement, a locally created Texas Stock Exchange, and a New York Stock Exchange regional office moving to the Dallas area. "So connect the dots for me," the questioner asked.
Abbott replied that a cluster of financial headquarters and regional offices has grown in the Dallas area, citing the finish of Goldman Sachsbuilding work, Charles Schwabheadquarters, JPMorgan Chase employment growth, and a new Wells Fargo campus in Irving. "Therefore, the past 1 or 2 decades, there's been a rapid growth in the financial services sector here and that's being punctuated" by these developments, Abbott said, and called Dallas "ground 0 for the future of the financial industry" outside New York.
Abbott attributed the location choices to workforce and industry infrastructure in Dallas rather than energy-sector concentrations in Houston. The exchange developments, he said, reflect firms following talent and business-service capacity.
The transcript does not include independent economic data or statements from the exchanges themselves; the article reports Abbott's statements and the questioner's summary of announcements.
