NYSE to come to Texas when Lone Star State continues to attract businesses
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Texas has become an important home in recent years for businesses considering relocating, including the latest. This is Dallas, located on the New York Stock Exchange’s “complete electronic stock change” NYSE TEXAS.
The NYSE revealed its plans on Wednesday Add an operation In Dallas, by reconfiguring NYSE Chicago as Lone Star State’s NYSE Texas, a “full electronic stock exchange” will provide public companies with a listing and trading venue centered on the vibrant economy of the Southwest US “He says. future.
NYSE Group President Lynn Martin said the exchange would “advertise Texas” as the state with “the largest number of NYSEs” and “the largest number of NYSEs” and “market leaders” in fostering a business atmosphere. “I am delighted to expand in a lonely star nation,” he said.
The trader works on the floor of the New York Stock Exchange on November 28, 2011. Reuters/Brendan McDermid (USA – Tag: Business) (Reuters/Brendan McDermid/Reuters photo)
The New York Stock Exchange is planning a “probusiness” exchange in Texas
A report released last year by the Federal Reserve Bank for Dallas has been discovered Over 7,300 companies online Between 2010 and 2019, he moved to Texas and was placed among the top states for business relocation.
The state believes more businesses have moved since 2000, the report said.
Kirty Sinha, assistant professor of accounting at the University of Texas, Dallas University, said Fox Business He said “several factors” have attracted businesses to the lonely Seongju.
“The first is, of course, taxes. There are no personal income taxes or corporate income taxes in Texas,” she said. “And second, I think our regulatory environment is much more relaxed compared to several other states.”
“We have lower disclosure and regulations oversight compared to other states. For example, the governor said, “Come here, make this your home, I’m here for you,” and signaled. I think he’s doing it. It shows businesses that, whatever the situation is, from a regulatory standpoint, they will remain this way in the future,” Sinha added. “That kind of thing gives them confidence.”
The Texas flag and the American flag fly together in a building in Austin, Texas, March 11, 2023 (Photo: Smith Collection/Gad/Getty Images) (Smith Collection/Gad/Getty Images/Getty Images)
space That Texas According to Sinha, it is used for manufacturing facilities and warehouses, and its wage rates are also appealing to businesses.
“For decades, Texas has worked to establish itself as the best place in America to do business. One of the fastest growing populations in the country, every state in the country Nate Sharp, the dean of the Maze Business School at Business Texas A&M, has a large number of tier 1 research universities, told Fox Business, that Texas, a regulatory environment that makes Texas easier to succeed, is It is an unparalleled place to do business.
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Among several well-known companies Head office has been moved In recent years, Texas has been home to Tesla, Fisher Investments and Hewlett Packard Enterprises.
Fisher Investments announced its transition to Lone Star State in 2023. The move was urged by the Washington Supreme Court in favour of the state’s capital gains tax.
Hewlett Packard Enterprises in 2020 pointed out “cost cut opportunities and “team members’ preferences regarding the future of work” for the transition to Texas.
In a more recent example, energy giant Chevron said it would move its headquarters from California to Texas in the fall of 2024. Andy Waltz, Chevron’s American Products president, said that California is a “hard place” to do business, and that “employers” will be involved in the relocation decision and “promoting better business outcomes.” He said that.
Sharp said the launch of NYSE Texas will “accelerate business growth” and make it “even more attractive.”
Downtown Dallas, Texas skyline on a partially cloudy day. (Photo: Hum Images/Universal Images Group Getty Images Group) (Hum Images/Universal Images group via Getty Images/Getty Images)
Another major stock exchange, NASDAQ, also exists in Texas, with the TXSE Group working to establish a Texas stock exchange in the state, and filed a Form 1 registration with the Securities and Exchange Commission later last month. Masu.
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“The entire listing process has become extremely complicated over the years, and having a physical office will help them to talk more directly and have direct access to these companies,” Sinha says, Fox He told Business.
She also said that the exchange in Texas is signaling investors that they can trust the system here, so they say, “Ah, the company comes, and the New York Stock Exchange comes, so it’s very self-fulfilling. I think it’s a cycle. “And that’s going to bring more investors and more companies.”