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City of Eagle Economic Development

Posted on: September 12, 2022

Local Employer Taps Zions Bank, Wright Brothers for Unique $21 Million Construction Project

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Money Metals Exchange, an Eagle-based company with nearly 100 employees, announced today it has selected Zions Bank for financing and Wright Brothers Construction Company as general contractor for its new $21 million precious metals depository and fulfillment center.  

"We are pleased to partner with both Zions Bank and Wright Brothers as our business enters an exciting new phase," said Clint Siegner, an owner and director of the nationally focused metals dealer and vaulting company.

"Zions provided a highly competitive financing proposal, and we believe it’s particularly important to work with folks who demonstrate both integrity and conscience. Meanwhile, Wright Brothers built Money Metals' existing facility and has already proven it has the expertise required to lead such a highly specialized and complex new project," Siegner continued.

Because Money Metals Exchange has expanded rapidly, it has outgrown its existing facility constructed in 2014 -- with the employee headcount rising from less than 25 to more than 90 during the past three years.

The family-owned Gem State business has added several employee benefits in recent years while stepping up wage levels dramatically in response to the runaway inflation situation fueled by debt-funded government spending and Federal Reserve monetary debasement.

After breaking ground next month on a 3.2-acre lot adjacent to city and county emergency services near the heart of Eagle, Money Metals’ secure, state-of-the-art facility will be open for operations by the end of 2023. 

At just shy of 40,000 square feet in size, it will be the largest private depository of its kind outside of financial centers located in the Northeast corridor of the United States. The new facility can also be expanded by at least 15,000 square feet in later years.

"We are also thrilled to be able to expand our business while still remaining in the beautiful City of Eagle,” said owner Mike Gleason. “We also appreciate the pro-business direction the city has taken under the leadership of Eagle Mayor Jason Pierce."

“Starting with just one employee on the second floor of the historic Eagle Hotel back in 2010, Money Metals Exchange has blossomed into an incredible company as well as employer for our city, earning national recognition in its industry. We are excited Money Metals decided to expand again in Eagle because this is exactly the type of company and owners we want in our community,” said Mayor Pierce.

Other key Treasure Valley vendors on the project include Erstad Architects, Integrated Security Resources, The Land Group, and Musgrove Engineering. Industry specialists include Global Risk Evaluations, American Special Risk, American Vault Corporation, and Lloyds of London.

Recently named "Best Overall" gold and silver dealer in the United States by Investopedia, Money Metals Exchange serves almost 500,000 customers nationwide and leads sound money public policy efforts in states across America and at the federal level. A family-owned Idaho business founded in 2010, it also operates Money Metals Depository for vaulting of gold and silver and Money Metals Capital Group, a collateral lending institution.

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