Why Texas is betting 'Y'all Street' can take on Wall Street
Goldman Sachs is constructing a massive new campus in Dallas, signaling a broader trend of financial firms expanding in Texas. Local leaders are promoting this shift as 'Y'all Street,' aiming to challenge New York City's dominance in the financial sector.
Why it matters
This reflects a significant geographic shift in the U.S. financial industry, driven by business-friendly climates and changing corporate strategies.
DALLAS, Tex. — The wind is whistling through an enormous, dusty construction site, surrounded by highways, office towers and a sports arena. Inside, hundreds of workers are spending years — and some $700 million — building Goldman Sachs' big bet on the future of Wall Street.
The Indicator from Planet Money Can Y'all Street outflank Wall Street? The New York investment bank plans to open this 800,000-square-foot campus in 2028 , with space to eventually employ more than 5,000 local workers. The building will supersize Goldman's presence in Dallas, where the company already has its second-largest U.S. office after its global headquarters in Manhattan.
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