The mayor of Dallas says he’s ready to welcome a coming “flood” of Wall Street firms if New York Mayor Zohran Mamdani follows through on his socialist agenda — and even warned that Texas could one day dethrone New York as the nation’s financial capital.

Dallas is now the second-largest financial services hub in the U.S., having added more than 100,000 finance jobs over the past decade, and Dallas Mayor Eric Johnson said he expects that growth to accelerate under Mamdani.

“The action isn’t here,” Johnson said of The Big Apple, the New York Post reports. “The action is in the western part of the country.”

“What was already a trickle is going to turn into a flood of individuals and companies who have called New York home for a long time, moving to Dallas,” Johnson said.

The 50-year-old Republican compared New York’s potential decline to Venice losing its dominance as Europe’s premier trading hub centuries ago.

“It’s not inconceivable at all that within a certain number of years, people look back and go, ‘Do you remember back when New York was the financial capital of the United States? Isn’t that weird?’” Johnson said.

Johnson — a Harvard-educated history major — has worked closely with Texas Gov. Greg Abbott to lure financial giants with aggressive incentive packages, including tax breaks and grants. Firms courted include JPMorgan Chase, Goldman Sachs, Wells Fargo, and Canada’s Scotia Bank.

The strategy appears to be paying off. JPMorgan, led by CEO Jamie Dimon, already employs more workers in Texas than in New York.

Johnson’s warnings echo omens from Fortress co-CEO Drew McKnight, who recently said Dallas has emerged as a serious rival to New York in attracting financial talent.

Mamdani, 34, a former state assemblyman, last week doubled down on campaign pledges to freeze rents and raise taxes as he took office.

Johnson blasted those policies as an “un-American socialist impulse”, saying they are driving financiers to “vote with their feet.”

He also pointed to past proposals in Albany as an early warning sign.

“A transaction tax was being discussed in Albany. That’s why I think we first started getting a lot of communication from New York-based firms about whether or not they wanted to come to Texas,” Johnson said, adding that the proposal helped spur the creation of the Texas Stock Exchange, set to formally launch later this year.

Johnson pitched Dallas as a friendlier alternative, citing no state income tax, falling property taxes, and a pro-business climate.

“I’ve cut the property tax rate every year I’ve been in office now — seven straight years,” he said.

“You’re talking about an environment where they’re trying to find new ways to tax people, compared to one where we’re trying to push down the one tax we’ve got — and we don’t have an income tax,” he added.

Johnson also pointed to cheaper housing, strong schools, safer streets, and streamlined permitting — including approval for Goldman Sachs’ new $700 million Dallas campus, which is expected to employ 5,000 workers.

Federal SEC regulations apply to financial firms regardless of location, Johnson noted, but Texas offers a better quality of life.

“The cost of living is lower,” he said. “You can have the best of New York, but you can have it in a place where you can also afford to have a very nice home, send your kids to good schools, and be safe.”

Mamdani’s proposed tax hikes — including raising the corporate rate to 11.5% and adding a 2% personal income tax on earners making more than $1 million — are expected to fund his agenda, which his office says would raise $9 billion annually.