MP Materials Corp. will expand its operations in Texas by building a rare earth magnet manufacturing campus in Northlake, creating over 1,500 new jobs and investing more than $1.25 billion. The company received a Texas Enterprise Fund grant of $12,880,500 for corporate operations and a Texas Semiconductor Innovation Fund grant of $53,457,500 for the manufacturing facility that will produce neodymium-iron-boron (NdFeB) magnets. These magnets are important for semiconductor manufacturing.
Governor Greg Abbott said: “Hardworking Texans will advance America’s semiconductor manufacturing independence. This Texas-sized investment by MP Materials in Northlake will create more than 1,500 corporate, manufacturing, and engineering jobs and dramatically expand domestic manufacturing of rare earth magnets to reduce reliance on foreign supply chains. This expansion in North Texas reflects the strength of our skilled and growing workforce and our advanced manufacturing expertise. Working together with innovative industry partners, Texas will accelerate America’s leadership for decades to come.”
The new facility will manufacture rare earth NdFeB magnets essential for advanced semiconductor chip fabrication. Located less than ten miles from MP’s existing Fort Worth operations, the new campus named “10X” is expected to increase MP’s production of these high-performance magnets to support U.S. semiconductor manufacturing and lessen dependence on foreign suppliers.
James Litinsky, Founder, Chairman & CEO of MP Materials stated: “10X is about building industrial strength at a scale the United States has not seen in generations, and the exceptional talent and infrastructure in North Texas make it possible. We are advancing key objectives under our public-private partnership with the Department of War and accelerating America’s rare earth and magnet independence with an uncompromising focus on speed, execution, and delivery.”
Senator Tan Parker commented: “When we pass smart, pro-growth policies, companies choose Texas — and this investment proves North Texas is leading America’s industrial resurgence.”
Representative Mitch Little added: “Denton County and all of North Texas are thrilled to see MP Materials deepen its roots in our community. These 1,500 new jobs represent the type of essential, skilled work that helps Texans achieve the American dream and makes our country more secure.”
Town of Northlake Mayor Brian Montini said: “Northlake is incredibly excited that MP Materials has chosen Northlake for its next major facility and a $1.25 billion investment in our community. This is a historic milestone for our town and a strong statement about the future of Northlake as a destination for world-class industry and innovation. Our Town Council, along with Northlake’s economic development boards and our county and state partners, worked tirelessly to ensure MP Materials knew that Texas is the best place in America to invest, grow, and do business. We are proud of the collaboration that brought this opportunity to Northlake, and we look forward to the jobs, economic growth, and long-term community impact this project will deliver for our residents and the entire region.”
Denton County Judge Andy Eads said: “Denton County is proud to lead in advanced manufacturing, and MP Materials’ decision to locate in Denton County will play a pivotal role in strengthening U.S. rare earth production. This facility will create high-quality jobs and reinforce the nation’s leadership in critical technologies.”
The Office of Texas Governor Greg Abbott has contributed to job growth statewide while focusing on economic opportunities such as this one.
The TEF grant is performance-based; it may be awarded when one site within Texas competes against out-of-state locations for business relocation or expansion projects aiming at job creation or significant capital investment.
Governor Abbott signed into law the Texas CHIPS Act in 2023 which created programs like TSIF designed to keep Texas at the forefront of semiconductor research, design and manufacturing by supporting companies like MP Materials through grants administered by specialized state offices.
For further information about state initiatives supporting job creation or economic development led by Governor Abbott since his election in 2014—including recognition among TIME’s 100 Most Influential People—visit the official website.
