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A New Dawn for Business in Texas
Flanked by the Dallas Cowboys cheerleaders and buoyed by an enthusiastic crowd, Gov. Greg Abbott rang the New York Stock Exchange’s closing bell at AT&T Stadium. The event was a resounding celebration of Texas’ burgeoning business landscape and economic vitality.
The Big Move: NYSE Comes to Texas
In a momentous shift, the Chicago Stock Exchange has relocated to Dallas. This marked the end of its 143-year storied history in Illinois. The Texas branch of the exchange officially opened in March, heralding a new era for financial exchanges in the state. Gov. Abbott proudly declared that Texas is destined to become “Y’all Street instead of Wall Street.”
Leadership Changes: Bryan Daniel at the Helm
Adding to the excitement, the Texas Workforce Commission announced that [Bryan Daniel](https://www.twc.texas.gov/news/twc-chairman-bryan-daniel-leaves-twc-new-role#:~:text=AUSTIN%20%E2%80%93%20Texas%20Workforce%20Commission%20(TWC,said%20TWC%20Chairman%20Bryan%20Daniel.) would lead NYSE Texas. Daniel, formerly a key member of Governor Abbott’s senior staff, will now spearhead operations, infusing the exchange with local expertise.
Policies Powering Progress
Gov. Abbott didn’t miss the opportunity to sing praises of Texas’ business-savvy policies. “We’ve got to keep our vision going forward,” he urged, stressing the importance of policies that foster business growth. With the proposed Texas Stock Exchange set to open early next year, the state’s economic strategies are sure to attract more business giants.
A Testament to Economic Attractiveness
The state’s attractiveness isn’t just an anecdote. As economics professor Bulent Temel from the University of Texas at San Antonio explained, this influx of exchanges demonstrates the allure of Texas. The vibrant economy of Texas, within the world’s leading economy, turns many heads globally.
Dallas: A Magnet for Major Exchanges
Not only is the NYSE making waves in Texas, but Nasdaq, too, has announced plans for a new regional headquarters in Dallas. With approximately 800 clients already based in the state, Nasdaq’s deepening commitment highlights Texas as a financial powerhouse.
The Governor’s Entreaty
Before ringing the bell, Gov. Abbott extended a warm invitation to businesses. “If you want to live in a state that has fewer taxes, come to the Lone Star State of Texas,” he proclaimed, underscoring the state’s appealing fiscal policies.
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You can contact James Hartley with tips at [email protected] or follow him on X @ByJamesHartley.
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