MP Materials to Build New $1.25B Rare Earth Magnet Plant in Texas to Strengthen U.S. Supply Chain
MP Materials Corp., the U.S. rare-earth materials producer, has announced plans to invest over $1.25 billion to develop a new rare earth magnet manufacturing campus in Northlake, Texas, boosting domestic production of high-performance magnets and strengthening American supply chain independence.
The project — branded the “10X” facility — will be built on a 120-acre site near the company’s existing magnet operations in Fort Worth and is expected to create more than 1,500 manufacturing and engineering jobs by the time it becomes operational around 2028.
MP Materials, headquartered in Las Vegas and already the only fully integrated rare earth producer in the United States, aims to significantly expand its domestic magnet manufacturing capacity, targeting roughly 10,000 metric tons of NdFeB (neodymium-iron-boron) magnets annually once the campus is fully online. NdFeB magnets are critical components in advanced technologies — including electric vehicles, aerospace systems, robotics and semiconductor fabrication — and U.S. supply chains have long been heavily reliant on foreign sources, particularly China.
The investment reinforces a broader public-private push to reduce reliance on imports for strategic minerals and components. The company has underscored the strategic importance of domestic magnet production in collaboration with U.S. defence agencies, positioning the 10X plant as a major milestone in national industrial and security objectives.
State and local incentives, including grants from the Texas Enterprise Fund and Texas Semiconductor Innovation Fund, played a role in securing the project’s location, reflecting strong regional support for advanced manufacturing expansion.
The 10X facility will not only increase production but also integrate closely with MP Materials’ upstream mining and processing operations, advancing a vertically integrated rare earth supply chain that has been a strategic priority for U.S. industry and government stakeholders.