{"id":182343,"date":"2025-08-28T11:57:09","date_gmt":"2025-08-28T11:57:09","guid":{"rendered":"https:\/\/www.europesays.com\/us\/182343\/"},"modified":"2025-08-28T11:57:09","modified_gmt":"2025-08-28T11:57:09","slug":"city-approves-scotiabank-incentives-in-bid-to-create-1000-high-paying-local-jobs","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/182343\/","title":{"rendered":"City approves Scotiabank incentives in bid to create 1,000 high-paying local jobs"},"content":{"rendered":"<p class=\"body-text-paragraph\">The Great White North is one step closer to <a href=\"https:\/\/www.dallasnews.com\/business\/real-estate\/2025\/08\/25\/millions-in-incentives-planned-for-scotiabank-to-set-down-dallas-roots\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.dallasnews.com\/business\/real-estate\/2025\/08\/25\/millions-in-incentives-planned-for-scotiabank-to-set-down-dallas-roots\/\">setting up digs<\/a> on Y\u2019all Street. <\/p>\n<p class=\"body-text-paragraph\">On Wednesday, Dallas City Council unanimously approved an economic incentive package aimed at enticing the Bank of Nova Scotia \u2014 operating as Scotiabank \u2014 to put down roots in Victory Park. <\/p>\n<p class=\"body-text-paragraph\">While the council vote doesn\u2019t mean Scotiabank landing in Dallas is a done deal, it heats up the competition on whether the Canadian Big Five banking institution will put up a marquis on Y\u2019all Street \u2014 or in Charlotte, N.C.<\/p>\n<p class=\"body-text-paragraph\">The incentives approved include a $2.7 million economic development grant doled out in 2028, 2029 and 2031, as well as a ten-year property tax break. <\/p>\n<p>D-FW Real Estate News<\/p>\n<p class=\"dmnc_features-cta-social-article-cta-social-module__3beff secondaryRoman secondaryRoman-20 text-center text-gray-dark\">Get the latest real estate news you need to know.<\/p>\n<p class=\"dmnc_features-cta-social-article-cta-social-module__8MgJa flex flex-wrap text-gray-dark secondaryRoman secondaryRoman-20 text-center justify-center\">By signing up, you agree to our\u00a0<a class=\"dmnc_features-cta-social-article-cta-social-module__lU9-l border-b border-gray-dark hover_border-0 focus_border-0 active_border-0\" href=\"https:\/\/www.dallasnews.com\/help\/terms-of-service\/\" rel=\"nofollow noopener\" target=\"_blank\">Terms of Service<\/a>\u00a0and\u00a0<a class=\"dmnc_features-cta-social-article-cta-social-module__lU9-l border-b border-gray-dark hover_border-0 focus_border-0 active_border-0\" href=\"https:\/\/www.dallasnews.com\/help\/privacy-policy\" rel=\"nofollow noopener\" target=\"_blank\">Privacy Policy.<\/a><\/p>\n<p class=\"body-text-paragraph\">Special designations will also be bestowed on the 2.9-acre parcel selected for Scotiabank that will entitle it to other incentives, including state tax refunds.<\/p>\n<p class=\"body-text-paragraph\">The terms include a $60 million capital investment in Dallas by Scotiabank, taking up a 100,000 square foot office at 2601 Victory Park, and creating 1,025 jobs in the city with average wages over $135,000.<\/p>\n<p class=\"body-text-paragraph\">The institution would also be required to create workforce development programs with Dallas College, and other local schools including internships and apprenticeships. <\/p>\n<p class=\"body-text-paragraph\">Council members lauded the city\u2019s economic development office and city manager\u2019s office in putting together an incentive package for Scotiabank. <\/p>\n<p class=\"body-text-paragraph\">\u201cY\u2019all Street belongs in Dallas, Texas,\u201d said District 7 council member Adam Bazaldua during the meeting. <\/p>\n<p class=\"body-text-paragraph\">District 14 council member Paul Ridley said the effort plays to Dallas\u2019 strengths as a financial powerhouse. <\/p>\n<p class=\"body-text-paragraph\">The city has already drawn the likes of Goldman Sachs, the New York Stock Exchange and the Texas Stock Exchange. <\/p>\n<p class=\"body-text-paragraph\">\u201cBringing Scotiabank to Dallas would be a huge win for our city and our residents,\u201d District 1 council member Chad West said in an email after the vote. \u201cIf selected, Dallas will cement its legacy as a financial hub, add 1,000 high-paying jobs and create workforce development partnerships with local schools. These jobs \u2014 and the associated property and sales taxes they will generate \u2014 will help our city deliver critical services without raising taxes.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The Great White North is one step closer to setting up digs on Y\u2019all Street. On Wednesday, Dallas&hellip;\n","protected":false},"author":3,"featured_media":182344,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5135],"tags":[5229,347,8392,12611,1596,4329,358,3187,67,586,132,5230,68,2969],"class_list":{"0":"post-182343","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-dallas","8":"tag-america","9":"tag-article","10":"tag-banking","11":"tag-commercial-real-estate","12":"tag-dallas","13":"tag-real-estate","14":"tag-texas","15":"tag-tx","16":"tag-united-states","17":"tag-united-states-of-america","18":"tag-unitedstates","19":"tag-unitedstatesofamerica","20":"tag-us","21":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115106273718641739","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/182343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=182343"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/182343\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/182344"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=182343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=182343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=182343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}