Terms include a $60 million capital investment in Dallas by Scotiabank which will occupy up to 100,000 square feet of office space at 2601 Victory Avenue and add 1,020 jobs in the city with average wages over $135,000. 

"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. “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,” Moreno added. 

The Scotiabank announcement comes after the Dallas City Council voted last week to approve a $2.7 million economic development grant to the bank. Governor Greg Abbott has also announced the bank will also be eligible for state tax refunds. 

“Heartfelt thanks to all the partners and business leaders who came together and collaborated to make this announcement possible,” said Dallas City Manager Kimberly Bizor Tolbert. “It was truly a team effort and a win for the entire North Texas region.” 

The Dallas City Council approved grant will be spread out from 2028 through 2031 and will also include a ten-year property tax break.