Rare-Earth Magnet Maker to Construct $918M Raleigh-Area Plant

Rare-Earth Magnet Maker to Construct $918M Raleigh-Area Plant

Vulcan Elements paid $8 million for 56 acres in Benson to build a rare-earth magnet manufacturing plant. The Triangle Business Journal reports Vulcan will invest $918 million in the plant, which could create up to 1,000 jobs. Benson is about 30 miles south of Raleigh. The land purchase was at Crosspoint Logistics center, which has just over 500,000 square feet of existing space, with the potential for an additional 500,000 square feet, spread ac…