Texas Governor Announces $1.25B Rare Earth Magnet Expansion by MP Materials

New facility in Northlake will create over 1,500 jobs and reduce U.S. reliance on foreign rare earth magnet supply chains.

Published on Feb. 27, 2026

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Governor Greg Abbott announced that MP Materials Corp. will expand its presence in Texas by establishing a new rare earth magnet manufacturing campus in Northlake. The $1.25 billion investment will create over 1,500 new jobs and is supported by grants from the Texas Enterprise Fund and Texas Semiconductor Innovation Fund. The new facility, called '10X', will significantly scale MP Materials' production of neodymium-iron-boron magnets, a critical component for semiconductor manufacturing, in order to reduce U.S. reliance on foreign supply chains.

Why it matters

This expansion by MP Materials is a significant boost to Texas' advanced manufacturing capabilities and semiconductor industry. By establishing a large-scale domestic source of rare earth magnets, it will help strengthen U.S. supply chain independence and technological leadership in critical industries. The investment also reflects the state's pro-business climate and skilled workforce that continue to attract major industrial projects.

The details

The new MP Materials campus in Northlake will manufacture rare earth NdFeB magnets, which are essential for semiconductor chip fabrication. Located less than 10 miles from MP's existing Fort Worth operations, the '10X' facility will dramatically expand the company's production of high-performance NdFeB magnets to support U.S. semiconductor manufacturing. The project is part of MP Materials' public-private partnership with the Department of Defense to accelerate America's rare earth and magnet independence.

  • Governor Abbott announced the expansion on February 27, 2026.
  • MP Materials plans to open the new '10X' campus in Northlake.

The players

MP Materials Corp.

An American rare earth mining and processing company that is expanding its presence in Texas to establish a new magnet manufacturing campus.

Governor Greg Abbott

The Governor of Texas who announced the expansion project and the state incentives supporting it.

James Litinsky

The Founder, Chairman, and CEO of MP Materials.

Tan Parker

A Texas State Senator representing the North Texas region.

Mitch Little

A Texas State Representative for the Northlake area.

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What they’re saying

“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.”

— James Litinsky, Founder, Chairman & CEO, MP Materials (thestkittsnevisobserver.com)

“When we pass smart, pro-growth policies, companies choose Texas — and this investment proves North Texas is leading America's industrial resurgence.”

— Tan Parker, Texas State Senator (thestkittsnevisobserver.com)

“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.”

— Brian Montini, Mayor, Town of Northlake (thestkittsnevisobserver.com)

What’s next

MP Materials plans to begin construction on the new '10X' campus in Northlake in the coming months, with the goal of opening the facility and ramping up production within the next 2-3 years.

The takeaway

This major investment by MP Materials solidifies Texas' position as a hub for advanced manufacturing and semiconductor industry growth. By establishing a large-scale domestic source of critical rare earth magnets, it will help reduce U.S. reliance on foreign supply chains and strengthen national security and technological competitiveness.