MP Materials Corp. has announced plans to expand its operations in Texas with the creation of a rare earth magnet manufacturing campus in Northlake. The project is expected to generate over 1,500 new jobs and involve more than $1.25 billion in capital investment. The state has extended a Texas Enterprise Fund grant of $12,880,500 for the development of corporate operations on the new campus. Additionally, a Texas Semiconductor Innovation Fund grant of $53,457,500 will support the facility’s efforts to increase production capacity for neodymium-iron-boron (NdFeB) magnets, which are essential for semiconductor manufacturing.
Governor Greg Abbott commented on the development: “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 planned “10X” campus will be located less than ten miles from MP Materials’ existing Fort Worth operations and is designed to significantly boost U.S.-based production of high-performance NdFeB magnets.
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 said: “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.”
Mayor Brian Montini of Northlake commented: “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 played an active role in supporting job growth across Texas through various initiatives focused on economic opportunities and services statewide. Since his election in 2014 Greg Abbott has led efforts emphasizing job creation as well as support for industries such as semiconductors from offices based primarily in Austin. The governor’s administration received recognition when Greg Abbott was named among TIME’s 100 Most Influential People in 2024 according to official sources.
The TEF program provides performance-based grants aimed at encouraging businesses to choose Texas when considering relocation or expansion projects that could also occur out-of-state.
In 2023 Governor Abbott signed into law the Texas CHIPS Act establishing TSIF as part of broader efforts administered by the Governor’s Economic Development & Tourism Office through its dedicated division known as the Texas CHIPS Office, aimed at reinforcing semiconductor research and industry growth within state borders.
