Leander Gets Nation's First State-Administered Gold Depository

LEANDER, TX — In Leander, thar's gold in them there hills! The city has been chosen as the site of the nation's first state-administered gold depository, the Texas comptroller's office said Friday.

Called the Texas Bullion Depository, the site will store gold for citizens, institutions, businesses and the state once when it opens in late 2018 or early 2019, according to a news release by the comptroller's office. Austin-based Lone Star Tangible Asset has been tapped to operate the depository.

“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,” state Comptroller Glenn Hegar said in a prepared statement. “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.”

The new facility will include space for highly secure precious metals storage and will incorporate the latest technology in security systems, including advanced perimeter defense and high-definition security cameras, according to the comptroller's office.

Yet the exact location of the site is being withheld for security reasons.

“I’m truly excited to build Lone Star Tangible Assets’ new headquarters and the Texas Bullion Depository in Leander,” said 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.”

Tom Smelker, director of Treasury Operations at the Comptroller’s office, was named as the depository’s administrator earlier this year. Although the depository will be located in Texas, it will provide services nationwide in 2018, with international services to be offered in future phases, officials said. LSTA expects the brand-new, purpose-built depository facility to be completed late in 2018 or early 2019.

“We are thrilled to have Lone Star Tangible Assets and the Texas Bullion Depository in Leander,” Leander Mayor Christopher Fielder said. “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. 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.”

Ret. Col. Paul Hamilton, a 37-year veteran of the U.S. Air Force, leads operational security design efforts for LSTA and is responsible for the design and implementation of procedural and physical security for the Texas Bullion Depository and LSTA headquarters facilityj, according to the comptroller's office. Hamilton held several commands at Air Force installations with some of the nation’s highest security levels. His previous projects include coordinating manning requirements for the 14th Air Force and the Joint Space Operation Center, relocating a USAF Regional Headquarters operation and serving on the initial Site Activation Committee for Buckley Air Force Base.

Due to the unique nature of the facility, the city of Leander has authorized LSTA to build its own on-site firearms range and tactical training area, officials said.