Leander chosen as site for Texas Bullion Depository

An Austin-area city will be home to the Texas Bullion Depository with construction expected to begin early next year.

Texas Comptroller Glenn Hegar on Friday announced the site will be in Leander (lee-AND'-ehr), about 20 miles (32 kilometers) north of Austin. The exact location hasn't been revealed for security reasons.

Hegar in June announced Lone Star Tangible Assets of Austin was selected to build and operate the depository.

The 2015 Legislature approved a plan to start keeping the state's gold holdings within its own borders, instead of in an underground vault at a New York City bank.

Officials haven't said how much Texas gold will be stored at the new facility.