AUSTIN – The City of Leander has signed a deal to become the future home of the Texas Bullion Depository, Comptroller Glenn Hegar’s office said Friday.

Construction on the new depository is expected to begin in early 2018, Hegar’s office said. This will be the nation’s first state-administered gold bullion depository, and operated by Lone Star Tangible Assets (LSTA).

“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,” Hegar said in a 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.”

“I’m truly excited to build Lone Star Tangible Assets’ new headquarters and the Texas Bullion Depository in Leander,” added Matt Ferris, chairman of Lone Star Tangible Assets. “The representatives and city officials of Leander, including Mayor Chris Fielder and Chief of Police Greg Minton, have been extremely helpful and supportive during our research and evaluation periods. In addition, Mark Willis from the Leander Economic Development Corporation worked tremendously hard to craft an incentives package that made sense for both Lone Star Tangible Assets and the city of Leander.”

The depository will have space for precious metals storage, and the Comptroller’s office said the exact location of the multi-acre site “is being withheld for security reasons.”

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