Texas gold depository may be built in Williamson County

The Williamson County Commissioners Court met Tuesday for its weekly meeting.

The Williamson County Commissioners Court met Tuesday for its weekly meeting.

The nation’s first state gold depository looks to be coming to Williamson County, according to county documents.

Before being tabled until next week, commissioners were slated to discuss and possibly vote on an economic development agreement to be the site of the future Texas Bullion Depository, the existence of which was signed into law by Governor Greg Abbott after the 2015 state legislative session.

Having a depository, Abbott said at the time, would help keep Texas gold reserves safe and secure, as well as keep taxpayer funds from leaving the state. Previously, the state paid storage fees to facilities outside of Texas.

Under the proposed economic agreement, the gold depository would spend $12 million to build a 60,000 sq. ft. building and hire 300 full-time positions. In exchange, Williamson County would cover half of the real property ad valorem tax and all of the personal property ad valorem tax from the county’s general fund for five years. The taxable base of the depository property would be $71 million.

The Williamson County Commissioners Court is expected to address the economic development agreement during the Oct. 24 meeting.