A Scotiabank branch in Toronto on Aug. 12, 2024. Photo by Galit Rodan/Bloomberg

Bank of Nova Scotia is beefing up its U.S. footprint and Dallas is offering as much as US$2.7 million in incentives to win the lender’s next regional office.

The city council unanimously approved the financial package Wednesday, contingent on Scotiabank leasing at least 8,800 square metres of office space in Dallas by the end of the year. The city is dangling the incentives as Scotiabank also considers Charlotte, North Carolina, for a new U.S. office, according to the council’s grant resolution.

Scotiabank is weighing a new Dallas location as Wall Street mainstays boost their presence in the city. Goldman Sachs Group Inc. is building a US$500 million hub with room for over 5,000 workers, while Bank o

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