**Dallas Aims to Land Major Canadian Bank With Incentive Package**
Dallas may be one step closer to securing a significant economic win, as the city positions itself as the top contender to attract a major Canadian bank’s regional office.
The Dallas City Council has approved a package of incentives aimed at luring Toronto-based Scotiabank to open a large regional office, possibly in the Uptown area. The bank is considering leasing approximately 100,000 square feet at 2601 Victory Avenue for a 10- to 15-year term. If finalized, the move could bring or create more than 1,000 jobs in the city.
The incentive package includes a tax abatement and grants of up to $2.7 million. The city estimates that it would forgo approximately $831,308 in business personal property tax revenue over a 10-year period starting in 2028.
Despite the city’s best efforts, the deal is not yet confirmed. Scotiabank is reportedly still evaluating its options, with Charlotte also under consideration as a potential location.
As Dallas continues to grow as a financial and business hub, the arrival of a major institution like Scotiabank would represent a significant milestone in the city’s economic development strategy.
