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Magnet manufacturer set to invest $1 billion and add 1,000 new jobs in N.C.

Vulcan Elements will expand magnet production to 10,000 metric tons, boosting U.S. supply and creating 1,000 jobs, reducing reliance on Chinese manufacturing.

Summary by Spectrum Local News
"It's a boost to the local economy, but I want you all to know how important this is for our national security,” U.S. Senator Ted Budd said.

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$1 billion magnet factory coming

BENSON — RTP-based Vulcan Elements says it's going to build a $1 billion magnet factory in Johnston County, pledging to create 1,000 new jobs.

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Magnet manufacturer set to invest $1 billion and add 1,000 new jobs in N.C.

"It's a boost to the local economy, but I want you all to know how important this is for our national security,” U.S. Senator Ted Budd said.

·United States
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Spectrum Local News broke the news in United States on Wednesday, November 19, 2025.
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