The Dallas City Council unanimously approved $2.7 million in incentives Wednesday to Toronto-based Scotiabank, to try and secure a U.S. regional center for the financial firm.

In order to receive the incentives, Scotiabank would be required to bring over 1,000 jobs to Dallas with a minimum salary of $135,000 in the 100,000 square foot property.

Council member Chad West told NBC 5, the vote could prove a massive win for the city.

“This is all about the Y’all Street movement,” West said.

Texas recently started the Texas Stock Exchange, with the New York Stock Exchange relocating its Chicago office to Dallas in February.

“Dallas is becoming a hub for financial services on that Wall Street level,” West said.

Dallas is competing with Charlotte, North Carolina, for Scotiabank’s next U.S. l

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