Texas gold depository will be headquartered in Leander

The city of Leander will become the new home for the nationu2019s first state-administered gold depository.

The city of Leander will become the new home for the nationu2019s first state-administered gold depository.

The nation’s first state-administered gold depository will be located in the city of Leander.

Gov. Greg Abbott signed the existence of the Texas Bullion Depository into law after the 2015 legislative session. At the time, Abbott said having the depository would help keep Texas gold reserves secure, as well as keep taxpayer funds from leaving the state. Previously, the state paid storage fees to facilities outside of Texas.

The Leander site was selected by Austin-based Lone Star Tangible Assets, the vendor hired by the State Comptroller’s office to build and operate the depository. The exact location of the site is being withheld for security reasons, but Matt Ferris, chair of Lone Star Tangible Assets, said the facility would be located near the Capital Metro railroad tracks in north Leander.

Leander City Council approved an economic development agreement with Lone Star Tangible Assets for the depository during a Thursday night meeting. According to a press release from the Texas State Comptroller’s office set to be released Nov. 3, construction on the site is expected to begin in early 2018. Lone Star Tangible Assets expects the facility to be completed in late 2018 or early 2019.

The depository will provide services nationwide in 2018, with international services to be offered in the future phases, according to the release.

“This state-of-the-art facility will provide tremendous benefits to the citizens of Leander and will give Texans a secure facility right here in the Lone Star State where their gold and precious metals will be kept safe and close at hand,” Texas Comptroller Glenn Hegar said in the press release.

Ferris said Lone Star Tangible Assets is making room for more than 300 employees at the new location. He said the company will relocate its 100 current employees and add jobs as needed. He said nearly all of the company's positions are hired locally within a 50-mile radius.

Leander Mayor Chris Fielder said the city is thrilled to build the depository in Leander.

“As one of the safest and fastest growing communities in the nation, I can’t imagine a better place for companies in the precious metals industry to operate,” he said in the release. “We believe Leander is a growing destination for business, and I am proud to have us represent the state of Texas in this joint enterprise.”

Additional reporting by Carlie Porterfield
SHARE THIS STORY


MOST RECENT

Delighted Paws Pet Care began providing services to Round Rock-area pets in November. (Courtesy Delighted Paws Pet Care)
Delighted Paws Pet Care now serving Round Rock

Delighted Paws Pet Care, a provider of in-home pet sitting and private dog walking services, began providing services to Round Rock-area pets in November.

Williamson County Commissioners Court established the primary early voting locations Dec. 10. (Ali Linan/Community Impact Newspaper)
Most early voting polling locations finalized for March 2020 primaries

Court establishes primary early voting locations ahead of March 2020 elections.

Common winter allergies in Texas are caused by pollen from the Ashe juniper—also known as a mountain cedar. The tree is native to the area. (Nicholas Cicale/Community Impact Newspaper)
As pollen counts rise in Central Texas, learn about cedar fever and allergy prevention

As temperatures cool heading into the winter season in Central Texas, pollen counts from Ashe juniper trees begin to climb, causing seasonal allergies referred to locally by residents as “cedar fever.”

James Avery storefront in progress, coming soon, Stone Hill Town Center
James Avery to open storefront in Pflugerville's Stone Hill Town Center

The jewelry chain specializes in bracelets, necklaces, charms and pendents, along with handbags and signature jewelry collections.

bath and body works strip mall storefront
Bath & Body Works to open Pflugerville storefront in 2020

From specialty soaps to candles and body care products: A Bath & Body Works is coming to Pflugerville next year.

Austin Mayor Pro Tem Delia Garza, at the lectern, speaks at a November 2017 press conference. Garza filed her candidacy for Travis County attorney on Dec. 9.
Delia Garza files for Travis County attorney race, will finish term as Austin Mayor Pro Tem

Austin Mayor Pro Tem Delia Garza filed her candidacy paperwork Dec. 9 to run for Travis County attorney as a Democrat.

A candidate for interim city manager will be selected from the Texas Municipal League. (Courtesy city of Huttto)
Hutto seeks to hire interim city manager from Texas Municipal League

The city of Hutto will seek a retired city manager from the Texas Municipal League to serve as Hutto's interim city manager.

Michael Angelos Gourmet Foods prepares, processes and packages a line of Italian frozen dishes at a facility in Round Rock.
18 new jobs, $11M facility upgrades: Michael Angelos Gourmet Foods ups investment in Round Rock

Local manufacturer of frozen foods Michael Angelo’s Gourmet Foods plans to upgrade its facilities, hire additional staff with a $290,000 economic incentive boost.

(Courtesy Fotolia)
Engineering consulting firm BGE to bring at least 80 new jobs to Round Rock

BGE, Inc. will create at least 80 jobs in Round Rock with an average salary of $80,000, according to an economic development agreement approved by Round Rock City Council Dec. 5.

Nutty Brown Cafe & Amphitheatre is a south Austin music venue that first opened in July 2000. (Community Impact Staff)
Nutty Brown Amphitheatre gets 2-year extension to build $10M venue in Round Rock

A highly-anticipated outdoor music venue has delayed its Round Rock opening once again.

Louisiana Crab Shack is set to open two Round Rock locations on Gattis School Road and Palm Valley Boulevard. (Lacy Klasel/Community Impact Newspaper)
Louisiana Crab Shack to open 2 Round Rock locations

The Austin-based seafood chain currently has restaurants in Austin, Georgetown, Cedar Park and Waco.

Back to top