Abbott: Stock exchange coalition ‘impressed’ in visit to Texas Governor’s Mansion
By Dom DiFurio
5:55 PM on Nov 20, 2020 CST
The group meeting with Abbott calls itself the Coalition To Prevent the Taxing of Retirement Savings. It includes Nasdaq, CBOE Global Markets, Citadel Securities, data center operator Equinix, IEX, Members Exchange, New York Stock Exchange owner Intercontinental Exchange, TD Ameritrade Holding Corp., Virtu Financial and UBS.
Abbott said the exchanges are eyeing Dallas-Fort Worth for a potential move.
The state’s abundance of renewable energy, its independent power grid and cheap cost for electricity compared to New Jersey were discussed with the group, Abbott said. Tech giants Facebook and Google have already seized on the Texas power advantage, having invested in large data centers in North Texas recently.
There’s a short list of companies that already seem to have one foot out the door — whether it’s Wells Fargo (NYSE: WFC), with its CEO based in New York, or Chevron (NYSE: CVX) employing more people in Houston than it does in the Bay Area.
The Bay Area’s Fortune 500 companies often reiterate their commitment to the region — until one day unveiling plans to move their headquarters out of state. Such was the case with Irving-based McKesson (NYSE: MCK), which told the San Francisco Business Times on Nov. 8, 2018, that its headquarters is in San Francisco. Three weeks later, McKesson disclosed that its headquarters was headed to Texas.
As part of the merger, the combined company’s headquarters would relocate from San Francisco to North Texas.
Schwab’s $100 million campus is located in Westlake at the corner of Highways 170 and 114.
The campus covers 500,000 square feet on more than 70 acres of land.
The Schwab campus, which covers 500,000 square feet on more than 70 acres of land, will be located in Hillwood’s Circle T Ranch development.
A fast-growing real estate firm focused on multifamily investment is relocating its corporate headquarters to Dallas from Los Angeles.
Lion Real Estate Group LLC, which has about 150 employees and $1 billion in assets under management, is moving its headquarters into office space at 3811 Turtle Creek Blvd., the company’s co-founders said in an exclusive interview with the Dallas Business Journal on Tuesday.
The company will keep its Los Angeles office to support West Coast operations.
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