Texas Wants Wall Street’s Money—and New York’s Swagger
Summary
Texas has seen fast population growth and many companies moving there, especially around Dallas-Fort Worth. This trend is attracting financial firms like Goldman Sachs, the New York Stock Exchange, and Nasdaq to open large offices in Texas, making it an emerging financial center.Key Facts
- Texas added over 391,000 residents between July 2024 and July 2025, more than any other U.S. state.
- From 2015 to 2024, 314 corporate headquarters moved to Texas, with 154 relocating specifically to Dallas-Fort Worth.
- Twenty-four companies moved from New York to Texas; California lost 157 companies to Texas in that time.
- Texas offers a large labor and consumer market, room to grow cities, and a business-friendly government.
- The shift to Texas began before the pandemic and continues as a long-term trend.
- Goldman Sachs is building a large office in Dallas for over 5,000 employees, making it its second-largest U.S. location.
- The New York Stock Exchange created NYSE Texas in Dallas, noting Texas leads in NYSE-listed companies by market value.
- Nasdaq also opened a regional headquarters in Dallas and serves about 800 Texas-based clients.
- The Texas Stock Exchange received government approval in 2025 to operate nationally from Dallas.
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