Dallas, September 13, 2025
News Summary
Major Wall Street firms are increasing their workforce and physical presence in Dallas, Texas. Significant investments from Goldman Sachs, Bank of America, and JPMorgan Chase are reshaping the financial landscape. These expansions are expected to create thousands of jobs and enhance amenities in new campuses, signaling a shift towards a tech-finance hub in the region. With rising interest from other firms, Dallas stands poised for sustained growth in the finance and technology sectors, despite challenges related to affordable housing.
DallasWall Street firms are rapidly expanding their physical and workforce presence in the Dallas area, signaling a notable shift in the U.S. financial landscape toward Texas. Major moves include a $500 million campus investment by Goldman Sachs, Bank of America’s relocation to a new tower, and continuing growth from JPMorgan Chase, the New York Stock Exchange, Charles Schwab, Citi, and other financial and fintech firms. These decisions are reshaping office footprints, hiring patterns, and the regional mix of finance and technology talent.
What happened
Goldman Sachs has committed to a new 800,000-square-foot campus in Dallas with an expected opening in 2028, funded by an estimated $500 million investment and designed to accommodate more than 5,000 employees. The campus plan includes fitness and wellness facilities, multiple dining options, childcare services, lounges and event spaces, bike parking, and rooftop gardens. Goldman Sachs has maintained a presence in Dallas for nearly six decades and reports a 52% increase in applicants to its Dallas program over the last five years.
Bank of America is relocating to the Bank of America Tower at Parkside in Dallas, a move expected in the third quarter of 2027. The bank will occupy roughly nine of the tower’s 30 floors and house about 1,000 employees at that site. The new location will include amenities such as a fitness center, coffee bar, floor-to-ceiling windows, green walls, and terraces. As of July, Bank of America reported 19,000 employees in Texas, with 14,480 based in the Dallas-Fort Worth area.
JPMorgan Chase continues to expand in the region, with a Dallas-area campus in Plano that now employs more than 12,500 people across 1.5 million square feet in four buildings. The Plano campus has about doubled in size since opening in 2017. Dallas serves as a key global technology center for JPMorgan Chase, hosting over 5,000 technologists and contributing to a Texas-wide headcount of more than 32,000 employees.
Other notable moves and presence
The New York Stock Exchange relocated its Chicago outpost to Dallas and officially opened NYSE Texas at the Old Parkland campus on March 31, 2025. An executive was appointed to lead NYSE Texas on August 4. Charles Schwab established its global headquarters in Westlake, Texas, in late 2019; that campus comprises seven buildings on 70 acres and supports more than 10,000 employees in Texas.
Nasdaq is planning to set up a regional headquarters in Dallas and is actively scouting locations. Citi has operated in Texas for decades and employs approximately 11,000 workers at its Irving campus, which includes a range of workplace amenities. London-based fintech Wise expanded its Austin footprint by leasing two additional floors totaling 90,000 square feet, with the company reporting more than 700 U.S. employees.
Why it matters
The clustering of major financial institutions and fintech firms is strengthening Dallas’s reputation as a hub where finance and technology intersect. State-level efforts to promote a pro-business environment are cited as a factor in attracting relocations and expansions from New York and other states. A deeper local talent pool that combines financial, technical, and operational skill sets supports continued growth and investment.
Potential challenges
Rising housing costs in Texas cities, including Dallas and its suburbs, present a potential risk to the state’s affordability advantage. Increasing housing and living expenses could make recruiting and retaining workers more difficult over time and could temper the pace of growth if not addressed.
Outlook
Experts predict sustained expansion in Dallas driven by a diverse and highly skilled labor pool and the region’s appeal to firms seeking combined finance and technology capabilities. The presence of multiple major firms, newly planned campuses, and regional headquarters suggests continued job creation, commercial real estate demand, and further integration of financial services and technology industries in the Dallas area.
Key details at a glance
- Goldman Sachs: $500 million, 800,000 sq ft campus, opening 2028, >5,000 employees.
- Bank of America: New tower occupancy Q3 2027, ~1,000 employees at Parkside site; 19,000 employees in Texas (14,480 in DFW).
- JPMorgan Chase: Plano campus, >12,500 employees, 1.5 million sq ft across 4 buildings; >5,000 technologists in Dallas.
- NYSE Texas: Opened March 31, 2025 at Old Parkland campus; regional leadership appointed August 4.
- Charles Schwab: Global HQ in Westlake since 2019, 7 buildings on 70 acres, >10,000 employees in Texas.
- Nasdaq: Planning a Dallas regional HQ; site selection in progress.
- Citi: ~11,000 employees at Irving campus.
- Wise (fintech): Expanded Austin office by 90,000 sq ft; >700 U.S. employees.
FAQ
Which firms are expanding in Dallas?
Major financial firms with recent expansions or relocations in the Dallas area include Goldman Sachs, Bank of America, JPMorgan Chase, the New York Stock Exchange, Charles Schwab, Citi, and Nasdaq (planning). Other fintech firms such as Wise are growing in Texas cities as well.
How many jobs are being added or supported?
Goldman Sachs plans to accommodate more than 5,000 employees at its new campus. Bank of America will house about 1,000 employees in its Parkside tower location. JPMorgan Chase’s Plano campus employs more than 12,500 people. Combined, these and other firms account for tens of thousands of finance and tech roles across Texas.
When will the new facilities open?
Goldman Sachs expects its Dallas campus to open in 2028. Bank of America’s Parkside tower location is expected by the third quarter of 2027. NYSE Texas opened on March 31, 2025. Other timelines vary by firm and project.
What amenities are planned for the new campuses?
Planned amenities include fitness and wellness centers, dining options, childcare services, lounges and event spaces, green walls and terraces, rooftop gardens, and bike parking, reflecting modern workplace trends focused on employee services and sustainability.
What challenges could affect growth?
Rising housing costs and other living expenses in Texas could reduce some of the state’s affordability advantages and make recruiting and retaining talent more difficult if prices continue to increase.
Key features comparison
| Institution | Investment / Space | Texas Employees (approx.) | Key date |
|---|---|---|---|
| Goldman Sachs | 800,000 sq ft campus; $500M | >5,000 at campus | Opening 2028 |
| Bank of America | New tower space at Parkside | 19,000 in Texas (14,480 in DFW) | Occupancy Q3 2027 |
| JPMorgan Chase | 1.5M sq ft in Plano (4 buildings) | >32,000 in Texas; >12,500 Plano | Campus expanded since 2017 |
| NYSE Texas | Old Parkland campus | Regional operations | Opened March 31, 2025 |
| Charles Schwab | 7-building campus on 70 acres | >10,000 in Texas | HQ opened late 2019 |
Deeper Dive: News & Info About This Topic
HERE Resources
Crunch Fitness Hosts Stair Climbing Challenge in Odessa
North Texas Celebrates Fall with Family-Friendly Events
Dallas Celebrates NYSE Texas Launch
Cinemark Announces Dual Stock Listing on NYSE Texas
Texas Roadhouse’s Mixed Second-Quarter Earnings Report
High-Tech Hotels to Transform Mansfield’s Staybolt Street District
Samsung Partners with Tesla to Produce AI Chips in Taylor, Texas
Texas Trade Players Brace for New Tariffs
Texas Businesses Brace for Tough Trade Times
Dallas-Fort Worth Faces Record Surge in Bankruptcy Filings
Additional Resources
- Dallas News: Goldman’s $500 Million Texas Investment
- Wikipedia: Financial Services in the United States
- Axios: Goldman Sachs Dallas Victory Park
- Google Search: Goldman Sachs Dallas investment
- Business Insider: Goldman Sachs Careers in Dallas
- Encyclopedia Britannica: Banking
- Dallas News: North Texas Transition to High Finance
- Google News: Dallas Financial Expansion
Author: STAFF HERE DALLAS WRITER
DALLAS STAFF WRITER The DALLAS STAFF WRITER represents the experienced team at HEREDallas.com, your go-to source for actionable local news and information in Dallas, Dallas County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the State Fair of Texas, Deep Ellum Arts Festival, and Dallas International Film Festival. Our coverage extends to key organizations like the Dallas Regional Chamber and United Way of Metropolitan Dallas, plus leading businesses in telecommunications, aviation, and semiconductors that power the local economy such as AT&T, Southwest Airlines, and Texas Instruments. As part of the broader HERE network, including HEREAustinTX.com, HERECollegeStation.com, HEREHouston.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
