Morgan Stanley is weighing a $1.33 billion investment to build a new operational hub in Dallas. The proposed 709,000-square-foot skyscraper would consolidate the bank's various local business units. This expansion could create 4,800 new jobs. The bank expects to reach this staffing level by 2039.
The project requires a $684 million capital commitment from Morgan Stanley. Developer Trammell Crow Co. would contribute an additional $650 million to the development.
The Dallas City Council will vote on an incentive package featuring $18.5 million in grants and a significant tax abatement. Morgan Stanley is also evaluating Alpharetta, Georgia, as a potential alternative for the expansion.