AUSTIN — (Realty News Report) — Nasdaq Inc., one of the world’s largest stock exchanges, is exploring a potential relocation of some operations from New Jersey to Texas, Gov. Greg Abbott announced.
“I’ve been talking with the Nasdaq stock exchange about moving some of their operations to Texas. They want to flee high taxes,” Abbott posted on Twitter. “I let them know that we just passed a constitutional amendment banning an income tax in Texas.”
Nasdaq lists many of the largest technology companies, including Apple, Microsoft, Amazon, Alphabet, Facebook and Tesla.
Within Texas, Nasdaq’s site search is concentrating on the Dallas–Fort Worth area. The metroplex may face competition from Virginia, Illinois and North Carolina, whose officials have also been in contact with Nasdaq, according to the Dallas Morning News.
Gov. Abbott has promoted Texas’ strengths to Nasdaq, notably the availability of electricity from state wind farms, the Dallas Morning News reported.
About three years ago, Facebook constructed a $1 billion, wind-powered data center at Hillwood’s AllianceTexas development north of Fort Worth. As a prominent Nasdaq-listed company, Facebook could influence Nasdaq’s decision to expand operations in the state; the company recently filed construction documents to grow its Alliance facility.
AllianceTexas, a 27,000-acre planned development by Hillwood led by Ross Perot Jr., sits near Interstate 35W and includes an industrial airport. Since opening in 1989, the development has attracted numerous major corporations. Facebook’s hyperscale data center campus at Alliance covers roughly 2.5 million square feet across 150 acres and operates on 100 percent renewable Texas wind energy.
Oct. 9, 2020 — Realty News Report. Copyright 2020.
File: Governor Talks with Nasdaq
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