Dallas Emerges as Corporate Hub with Texas Stock Exchange Gains Momentum

The financial services sector in Dallas is booming, with major companies like Goldman Sachs and JPMorgan Chase setting up massive offices and headcounts. This growth is part of a larger trend across Texas, which now boasts more Fortune 500 companies than any other state. The allure of lower taxes and lighter regulations has long drawn companies to the region, but recent efforts to become even more business-friendly have resonated with executives and corporations.

Dallas's transformation into a corporate hub took another step forward this summer with the opening of the Texas Stock Exchange (TXSE), backed by big-name institutional investors like BlackRock, Citadel, and Charles Schwab. Westwood Holdings Group CEO Brian Casey is 'very bullish' about the exchange and attributes its success to collaborative efforts between business and political leaders in Texas.

Casey notes that Dallas's central location, convenient travel options, and improved business courts make it an attractive destination for companies looking to incorporate. This has led several high-profile firms like Energy Transfer and Sunoco to shift their listings from the NYSE to TXSE, with retailer Dillard's also planning a move.

Westwood is playing a key role in this development by launching the TXSE's first new ETF, the Westwood Salient Enhanced Power & Infrastructure ETF. This investment vehicle will focus on the underlying energy ecosystem powering AI development, which Casey believes holds significant growth potential. He predicts a 10-year build-out requiring upwards of $600 billion in investment to meet increasing demand for compute power and supporting infrastructure.