MP Materials Corp. will expand its operations in Texas by establishing a rare earth magnet manufacturing campus in Northlake, according to an announcement from Governor Greg Abbott. The project is expected to create over 1,500 new jobs and involves more than $1.25 billion in capital investment.
The state has awarded MP Materials a Texas Enterprise Fund (TEF) grant of $12,880,500 for the development of the corporate operations at the new campus. Additionally, a Texas Semiconductor Innovation Fund (TSIF) grant of $53,457,500 has been provided for the manufacturing facility that will increase production capacity for neodymium-iron-boron (NdFeB) magnets—essential components used in semiconductor manufacturing.
“Hardworking Texans will advance America’s semiconductor manufacturing independence,” said Governor Abbott. “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 new facility will be called “10X” and is located less than ten miles from MP’s existing Fort Worth site. It aims to significantly increase U.S.-based production of high-performance NdFeB magnets used in advanced semiconductor chip fabrication.
“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,” said MP Materials Founder, Chairman & CEO James Litinsky. “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.”
“When we pass smart, pro-growth policies, companies choose Texas — and this investment proves North Texas is leading America’s industrial resurgence,” said Senator Tan Parker.
“Denton County and all of North Texas are thrilled to see MP Materials deepen its roots in our community,” said Representative Mitch Little. “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.”
“Northlake is incredibly excited that MP Materials has chosen Northlake for its next major facility and a $1.25 billion investment in our community,” said Town of Northlake Mayor Brian Montini. “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 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,” said Denton County Judge Andy Eads. “This facility will create high-quality jobs and reinforce the nation’s leadership in critical technologies.”
According to information from the official website, Governor Greg Abbott’s office has played an important role supporting job creation efforts across Texas while focusing on expanding economic opportunities statewide since his election as governor in 2014.
The TEF program offers performance-based grants aimed at attracting businesses considering relocation or expansion projects where sites within Texas compete against out-of-state locations.
Governor Abbott signed into law the Texas CHIPS Act in 2023 which established TSIF—a grant program intended to strengthen research capabilities as well as design capacities within semiconductor-related industries throughout Texas institutions.
