Instead of Wall Street, they call it “Y’all Street,” but it might not be so cheeky. Many financial firms have been opening corporate locations in the Dallas Metroplex area. Several are seriously thinking the region may give Wall Street a run for its money.

“Today, the Metroplex is dotted with sprawling campuses for companies compelled enough by the state’s business-friendliness and lower cost of living to make the move to Texas” reports the Real Deal.

“Thirty miles northwest of Dallas, Charles Schwab, Fidelity and Deloitte have parked corporate campuses at Ross Perot Jr.’s 2,500-acre Circle T Ranch. Across the Metroplex in Plano, Toyota and JPMorgan Chase comfortably reside in the sprawling Legacy West development.”

“But these are not anonymous towers for back-office paper pushers hired just because they’re a bargain compared to their New York counterparts. These are top-tier modern offices that are also trophies reflecting Texas’ accomplishment in scooping up an outsized portion of the nation’s growth in financial employment.”

More projects are on the way, reports The Real Deal: Hunt Realty hired Perot’s Hillwood to manage construction of a $500 million campus for Goldman Sachs. KDC and Pacific Elm Properties are building a 30-story tower that will house Bank of America. Granite Properties’ $173 million office tower recently signed Deloitte for four floors. 

Bottom line, “Y’all Street,” may be more than a catch phrase.

Today, Dallas is home to so many people employed in finance-related industries that it ranks second to New York…Since 2019, investment banking and securities employment jumped 27 percent in Texas, compared to 5 percent in New York, according to the Bureau of Labor Statistics.”