MP Materials to Build $1.25 Billion Rare Earth Magnet Campus in Northlake

MP Materials announced on February 26, 2026, that it has selected a 120-acre site in Northlake, Texas, for a new rare earth magnet manufacturing campus called "10X" — a $1.25 billion investment that the Texas Governor's Office says will create more than 1,500 jobs in the Dallas-Fort Worth region.

Consolidating in DFW

The 10X campus will sit in Northlake, less than 10 miles from MP Materials' existing Independence facility in Fort Worth. The proximity suggests the company is deliberately consolidating its rare earth magnet manufacturing footprint in the DFW metro rather than dispersing operations across multiple states. Related: MP Materials Breaks Ground on $1.25 Billion Rare Earth Magnet Campus in Northlake

Texas is backing the project with $66.34 million in combined state support: a $12.88 million grant from the Texas Enterprise Fund for corporate operations and a $53.46 million grant from the Texas Semiconductor Innovation Fund for the manufacturing facility itself. Construction timelines and production start dates have not been confirmed.

Why Rare Earth Magnets Matter

Rare earth magnets — particularly neodymium-iron-boron (NdFeB) variants — are critical components in electric vehicle motors, wind turbine generators, aerospace systems, industrial motors, and semiconductor fabrication equipment. MP Materials has not disclosed which applications or customer segments the Northlake facility will serve, nor has it specified annual production capacity or the sourcing and processing breakdown across its supply chain.

Strategic Positioning

The deployment of the Texas Semiconductor Innovation Fund signals that Texas is treating rare earth magnet production as strategically linked to semiconductor and electronics infrastructure, not as traditional heavy manufacturing alone. This reflects a broader federal and state policy push to secure domestic supplies of critical minerals — a priority that has accelerated in recent years.

The regional clustering of two MP Materials facilities in DFW mirrors a pattern seen in other U.S. advanced manufacturing buildouts, where specialized expertise in workforce, suppliers, and logistics networks concentrates in a single geography. How the Independence and Northlake operations will divide responsibilities remains unclear.

Regional Impact

The 1,500 new jobs and $1.25 billion investment add to DFW's emerging advanced manufacturing footprint in aerospace, semiconductor supply chain, and defense-adjacent industrial operations. Local suppliers, workforce training institutions, and logistics providers may be drawn into MP Materials' supply chain, though the scope is not yet defined.

Manufacturers in automotive, aerospace, industrial equipment, and energy sectors dependent on rare earth magnets will be watching for MP Materials' next announcements — particularly on production capacity, qualification timelines, and commercial availability.