US EditionMP Materials to build $1.25 billion rare earth magnet factory near Fort Worth
The $1.25 billion 10X campus will produce 7,000 metric tons of rare-earth magnets annually and create over 1,500 jobs to reduce U.S. supply chain dependence on China, officials said.
- On Thursday, MP Materials announced a $1.25 billion 10X magnet campus in Northlake, Texas, with $1250 million in incentives for a 120-acre site near Fort Worth.
- Amid concerns over foreign concentration, last year the U.S. government export controls highlighted supply chokepoints, prompting defense and industry actions; the Defense Department took a $400 million stake, aligning MP Materials with priorities.
- MP Materials says 10X will produce about 7,000 metric tons annually, using rare earths from Mountain Pass mine, California, with engineering underway and commissioning set for 2028.
- The project will create more than 1,500 jobs inside AllianceTexas, a Hillwood megasite that drives billions annually, with commercial buyers such as General Motors and Apple potentially gaining access under the Pentagon agreement.
- The company says the plant could end import dependence as U.S. rare-earth magnet imports fell to about 6,000 tons in 2025, and all of 10X's output is committed to the Pentagon for 10 years under the public-private partnership announced in July.
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15 Articles
Fort Worth Business Press
MP Materials Selects Northlake, Texas, as the Site of “10X,” a New U.S. Rare Earth Magnet Manufacturing Campus
Northlake, Texas, February 26, 2026 — MP Materials Corp. (NYSE: MP) today announced it has selected a 120 acre site in Northlake, Texas, to develop “10X,” the company’s planned large-scale rare earth magnet manufacturing campus. Located less than 10 miles from MP’s existing Independence facility in Fort Worth, the new campus will cement North Texas […]
Rare earth magnet maker to build $1.25B manufacturing site in Northlake
MP Materials will build a $1.25 billion facility in Northlake, creating more than 1,500 jobs. The U.S. Defense Department-backed project aims to expand domestic production and reduce U.S. reliance on foreign suppliers, according to Gov. Greg Abbott.
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