In what could possibly be the largest private commercial investment in Denton County history, Governor Greg Abbott today announced MP Materials Corp will expand its presence in Texas and establish a rare earth magnet manufacturing campus in Northlake that will create more than 1,500 new jobs and represents more than $1.25 billion in capital investment.
A Texas Enterprise Fund grant of $12,880,500 has been extended to MP Materials for the development of the campus’ corporate operations. In addition, a Texas Semiconductor Innovation Fund grant of $53,457,500 has been extended for the manufacturing facility on the campus that will scale the company’s capacity to produce neodymium-iron-boron (NdFeB) magnets, which are a critical component for 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.”
At the new facility, MP Materials will manufacture rare earth NdFeB magnets — critical for advanced semiconductor chip fabrication. Located less than 10 miles from MP’s existing Fort Worth operations, the new campus, to be called “10X,” will significantly expand MP’s production of high-performance NdFeB magnets to support U.S. semiconductor manufacturing and reduce dependence on foreign suppliers.
The materials are used in vehicles, robotics, electronics, the energy industry and aerospace and defense products like the F-35 fighter jet.
“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.”
The announcement drew praise from local and state officials who say the project positions Denton County at the forefront of America’s industrial and technological resurgence.
“When we pass smart, pro-growth policies, companies choose Texas — and this investment proves North Texas is leading America’s industrial resurgence,” said State Senator Tan Parker.
“Denton County and all of North Texas are thrilled to see MP Materials deepen its roots in our community,” said State Rep. 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 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.”
