MP Materials is planning a rare-earth magnet manufacturing campus in Northlake, Texas, a project the company says is designed to expand U.S. capacity for components used in electric motors, data storage and other industrial applications.
The Las Vegas-based producer said it expects to invest more than $1.25 billion in the 120-acre site, dubbed “10X,” near its existing Independence magnet facility in Fort Worth. State and local entities — including Texas, Denton County, and the City of Northlake — are expected to provide roughly $200 million in incentives over 10 years through grants and a package of tax abatements and exemptions, according to the company.
MP Materials said about $66 million of that support would come through the Texas Enterprise Fund and the Texas Semiconductor Innovation Fund. Texas officials said the development is expected to create more than 1,500 jobs spanning corporate operations, engineering and manufacturing roles.
The campus is planned to produce about 10,000 metric tons a year of neodymium-iron-boron (NdFeB) rare earth magnets once fully built out. MP Materials said it intends to use its Grain Boundary Diffusion (GBD) process, which it says can reduce or eliminate the need for certain heavy rare earths in the final magnet product.
MP Materials has said its rare-earth inputs for the project are expected to come from its Mountain Pass operation in California. The company has emphasized the Northlake buildout as part of a broader effort to strengthen domestic supply chains for critical minerals and components.
Construction is expected to begin soon, and commissioning is expected in 2028.
The announcement came alongside the company’s latest earnings release. MP Materials reported fourth-quarter net income of $9.4 million, reversing a loss in the same period a year earlier, and said adjusted EBITDA rose to $39.2 million. For full-year 2025, the company reported revenue of $224.4 million and a net loss of $85.5 million, citing revenue from magnetic precursor products while noting impacts from ending sales of rare-earth concentrate to China beginning in July 2025.
Source: MP Materials Plans Major Rare Earth Magnet Plant in North Texas
Photo Credit: MP Materials
