Project to Create 1,500+ Jobs, Strengthen U.S. Supply Chain Independence, and Expand Domestic NdFeB Magnet Production
NORTHLAKE, TEXAS (Feb. 26, 2026) — MP Materials Corp. (NYSE: MP) announced it has selected a 120-acre site in Northlake, Texas, for development of “10X,” a next-generation rare earth magnet manufacturing campus representing more than $1.25 billion in capital investment and the creation of over 1,500 high-quality manufacturing and engineering jobs.
Located within the AllianceTexas development and less than 10 miles from MP’s existing Independence facility in Fort Worth, the new campus further solidifies North Texas as the emerging epicenter of the United States’ rare earth magnet supply chain.
Engineering and equipment procurement are already underway, with groundbreaking expected imminently and commissioning targeted for 2028.
Expanding America’s Fully Integrated Rare Earth Magnet Platform
The 10X campus will dramatically expand MP Materials’ vertically integrated U.S. magnetics platform, which spans:
- Rare earth mining and refining
- Metallization and alloying
- Sintering and finished magnet production
- Closed-loop recycling
Once fully operational, the facility will help support total company production capacity of approximately 10,000 metric tons of NdFeB rare earth magnets annually — a transformational increase in domestic manufacturing of these critical components.
Neodymium-iron-boron (NdFeB) magnets are essential to advanced technologies including:
- Defense systems and drones
- Robotics and AI infrastructure
- Electric vehicles and electrification platforms
- Advanced semiconductor fabrication
- Data centers and next-generation computing
The light and heavy rare earth feedstock required for 10X will be sourced from MP’s Mountain Pass, California processing operations, while production scrap will be reintegrated into recycling circuits in Texas and California to strengthen circularity and cost performance.
Backed by Texas Incentives and Pentagon Offtake Commitment
The project is supported by a comprehensive state and local incentive package valued at approximately $200 million over more than a decade, approved by the State of Texas, Denton County, and the City of Northlake.
The package includes more than $66 million in grants from the Texas Enterprise Fund (TEF) and Texas Semiconductor Innovation Fund (TSIF), reinforcing Texas’ leadership in advanced manufacturing recruitment.
In addition, the 10X campus is a central pillar of MP’s public-private partnership with the U.S. Department of Defense (DoD), which includes a 10-year offtake commitment to provide long-term demand certainty and accelerate domestic rare earth magnet independence.
Building on a Proven U.S. Manufacturing Foundation
MP’s Fort Worth Independence facility began commercial metal production in 2024, followed by alloy flake and finished magnet production in 2025 — restoring end-to-end rare earth magnet manufacturing capabilities in the United States for the first time in decades.
The 10X campus will incorporate next-generation technologies, including MP’s proprietary Grain Boundary Diffusion (GBD) process, designed to significantly reduce or eliminate heavy rare earth requirements while maintaining high coercivity and thermal stability.
MP’s customer base includes long-term supply agreements with major U.S. manufacturers, including:
- General Motors
- Apple Inc.
These partnerships reflect growing industrial confidence in a secure, fully integrated domestic rare earth magnet supply chain.
Leadership Perspectives
James Litinsky, Founder, Chairman & CEO of MP Materials, emphasized the scale and strategic significance of the project:
“10X represents industrial strength at a scale the United States has not seen in generations. North Texas provides the talent, infrastructure, and ecosystem required to execute at speed and accelerate America’s rare earth and magnet independence.”
Governor Greg Abbott noted the project’s impact on advanced manufacturing leadership:
“This Texas-sized investment will create more than 1,500 jobs and dramatically expand domestic rare earth magnet manufacturing, reducing reliance on foreign supply chains while strengthening America’s semiconductor and advanced manufacturing capabilities.”
U.S. Senators John Cornyn and Ted Cruz also highlighted the project’s role in enhancing national security and reducing dependency on foreign critical minerals.
Ross Perot Jr., Chairman of Hillwood, emphasized AllianceTexas’ continued success in attracting strategic advanced manufacturing investments that diversify and strengthen the regional economy.
A Strategic Milestone for U.S. Rare Earth Independence
The 10X campus marks a historic milestone in reshoring critical mineral supply chains and advancing U.S. industrial competitiveness. By scaling rare earth magnet manufacturing capacity domestically, MP Materials is positioning North Texas — and the United States — at the forefront of advanced manufacturing, defense supply chain resilience, and next-generation technology production.
