Dallas, Texas – The Bank of Nova Scotia — widely known as Scotiabank — has confirmed plans to establish a major regional headquarters in Dallas. The move, hailed by city and state leaders, represents more than $60 million in capital investment and the creation of over 1,020 new jobs, with average wages exceeding $135,000.
The new office will occupy up to 100,000 square feet at 2601 Victory Avenue in Victory Park. All positions previously under the Texas Lottery Commission are now transitioned into Scotiabank’s Dallas operations. Employees in the new division will be housed in the George H.W. Bush Building, signaling a strong physical and economic presence in the city.
Dallas City Council unanimously approved an incentive agreement supporting Scotiabank’s expansion, including a $2.7 million economic development grant to be distributed from 2028 to 2031, along with a ten-year property tax abatement. In addition, Governor Greg Abbott extended a Texas Enterprise Fund (TEF) grant of $10,773,000 to the bank.
City and State Leaders Applaud the Announcement
Dallas leaders quickly voiced their excitement. “District 2 is gaining a new neighbor! Scotiabank is setting its roots in Victory Park and will add hundreds of jobs to our local economy! Through the creation of a Dallas Neighborhood Empowerment Zone, they will also ensure that wages are above the living wage and will prioritize hiring Dallasites,” said Dallas Mayor Pro Tem Jesse Moreno. He added, “Dallas is a city that thrives when our business community prospers, and District 2 is booming with a vibrant and growing economy! The Scotiabank commitment to the area also reflects the benefit of our continued investment in green spaces and parks throughout the city.”…