Texas | October 19, 2017

Nation’s First State Gold Depository Coming To . . .

Williamson County, north of Austin, TX could be the site of the nation’s first state gold depository, according to county documents. Williamson County commissioners will be soon discussing and possibly voting on an economic development agreement for the future Texas Bullion Depository. The depository’s existence was signed into law by Texas Governor Greg Abbott, following the 2015 state legislative session.

According to the proposed economic agreement, Texas Bullion Depository, under the operation of Lone Star Tangible Assets, would spend approximately $12 million to build a 60,000-square-foot facility and hire 300 full-time positions. In exchange, Williamson County would cover half of the real property and all of the personal property ad valorem tax for five years.

The depository’s taxable base would be $71 million.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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