MP Materials Breaks Ground on $1.25B Rare Earth Magnet Campus in Northlake
MP Materials Corp. (NYSE: MP) announced on February 26, 2026, that it has selected a 120-acre site in Northlake, Texas, for a new large-scale rare earth magnet manufacturing campus named "10X." The project represents more than $1.25 billion in capital investment and is expected to create more than 1,500 jobs in the Dallas-Fort Worth metroplex, according to both the company's investor press release and a simultaneous announcement from the Office of Governor Greg Abbott.
The Northlake site sits less than 10 miles from MP Materials' existing "Independence" facility in Fort Worth, per the company's February 26 announcement — deepening what appears to be a deliberate clustering strategy in the DFW metro for rare earth processing and magnet production.
What the 10X Campus Means for the Region
Rare earth permanent magnets — used in electric vehicle motors, wind turbine generators, and industrial robots — have been one of the more exposed chokepoints in U.S. manufacturing supply chains. Domestic production capacity has been limited and heavily concentrated in China. CNBC framed the MP Materials investment explicitly within the national push to reduce that dependence when it covered the announcement on February 26.
For Texas manufacturers in EV, automation, and energy sectors, the significance is practical: a domestic supplier at meaningful scale, located within the DFW metro, is a materially different sourcing environment than importing finished magnets from overseas or purchasing through intermediaries with limited visibility into origin.
The Dallas Morning News reported the campus has been formally named "10X," though MP Materials has not publicly explained the name's origin. Whether it signals a 10x scale increase over existing U.S. magnet production or serves as a brand identifier has not been confirmed.
Scale and Investment
According to MP Materials' investor press release, the Northlake site covers 120 acres. The $1.25 billion capital investment figure was confirmed by both the company and Governor Abbott's office, with more than 1,500 new jobs expected from both sources.
Projected construction timelines and an expected operational start date were not included in the available announcements. Which specific magnet types will be manufactured — neodymium-iron-boron and samarium-cobalt are the two primary industrial categories — has not been disclosed. Whether MP Materials has secured offtake agreements tied to the Northlake facility has also not been confirmed.
DFW's Growing Role in Advanced Materials
The 10X announcement follows the existing Fort Worth Independence facility, suggesting DFW is becoming a deliberate base for MP Materials' downstream manufacturing operations. The company's upstream raw material processing occurs at its Mountain Pass mine in California; whether that output will feed the Texas campus directly has not been confirmed in available reporting.
Governor Abbott's announcement framed the project as a major economic development win, reflecting Texas's ongoing effort to attract capital-intensive industrial investment. Whether state or local incentives influenced site selection has not been disclosed.
For supply chain and procurement leaders at Texas manufacturers, the 10X campus represents a sourcing option that does not currently exist at comparable volume anywhere in the region. Its progress from announcement through construction and into production is worth tracking closely.