Texas Bullion Depository Heading to Leander, TX
- Nov 06, 2017
Leander, one of the fastest-growing cities in Texas, located north of Austin, is on track to become home to the Texas Bullion Depository, a high-tech security facility to house tangible assets such as gold bars.
The 2015 legislature approved a plan to start keeping the state’s gold holdings within its own borders, instead of an underground vault at a New York City bank. The Texas Bullion Depository will be built and operated by Lone Star Tangible Assets (LSTA). Its exact location was not released for security reasons, but LSTA announced it will be situated in North Leander, near the Capital Metro railroad tracks. To ensure safety of the silver and gold assets, LSTA’s facility will include high-definition security cameras, an on-site gun range and a tactical training area. In addition, security guards will patrol the perimeter of the building.
One-year construction project
The depository will employ at least 100 people. Construction on a multi-acre site will begin in early 2018 and is slated for completion by late 2018 or early 2019. The Comptroller’s office will oversee the project during build-out and continue oversight once it becomes operational.
“I am pleased that LSTA and the city of Leander have reached an agreement to make this historic facility a reality for the people of Texas,” Texas Comptroller Glenn Hegar said in a prepared statement. “The Texas Bullion Depository is another example of the innovative and entrepreneurial spirit Texas fosters. 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.”