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Area Development - Site Selection, Facility Planning and Workforce Development

The Bank of Nova Scotia Plans Dallas, Texas, Regional Operations

09/05/2025
The Bank of Nova Scotia (Scotiabank), a multinational banking and financial services company, plans to establish operations in Dallas, Texas. The more than $60 million project is expected to create approximately 1,020 jobs.

The company’s new 100,000-square-foot regional headquarters will be located in Victory Park at 2601 Victory Avenue.

“As a top 10 bank in North America with over $1 trillion in assets, today's announcement marks a significant investment and commitment in Scotiabank's U.S. operations and reinforces our longstanding presence in Texas where we have been operating since the 1960s,” said Scotiabank Global Banking and Markets CEO and Group Head Travis Machen. “We are proud to expand in Dallas with a best-in-class regional hub that fortifies our role at the core of the North American corridor, a crucial gateway for trade and business, while also deepening our commitment to the local communities. We sincerely appreciate the support from Governor Abbott and Mayor Johnson, whose leadership continues to position Dallas as a premier destination for investment and growth.”

To support the project a Texas Enterprise Fund grant of $10,773,000 has been extended to Scotiabank.TEF is a performance-based grant that may be awarded to a business relocation or expansion project for which one Texas site is in competition with out-of-state locations.

“Texas is the new financial services capital of America,” noted Governor Greg Abbott. “Already home to the largest financial services workforce in the nation, this $60 million investment in Texas by Scotiabank will add more than 1,000 new, good-paying jobs. With the continued surge in investments by global financial services giants, Texas will strengthen its leadership across industry sectors, ensuring a more prosperous future for decades to come.”

The Bank of Nova Scotia s one of Canada's largest banks, offering a wide range of personal and commercial banking, wealth management, and investment services. Scotiabank operates internationally with a significant presence in Latin America, the Caribbean, and Central America, as well as in the U.S. and Asia.

“Scotiabank’s decision to establish a major office in Dallas reinforces our position as a top U.S. metro for financial services,” added Dallas Regional Chamber President & CEO Dale Petroskey. “We are grateful for Governor Abbott’s strategic vision in positioning Texas as a world-class financial center, as well as the support from Lieutenant Governor Patrick, Speaker Burrows, Senator Royce West, and Representative Venton Jones. This significant win reflects the collaborative spirit of our business community, city, and state allies and our collective commitment to securing a bright future for our great region.”

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