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MP Materials Corp. announced it has selected a 120-acre site in Northlake for its 10X campus, a planned large-scale earth magnet manufacturing campus in the Alliance area of Fort Worth.
Located less than 10 miles from another MP Materials’ Independence facility in Fort Worth, the 10X facility is expected to contribute to the company’s total production capacity of approximately 10,000 metric tons of neodymium-iron-boron, or NdFeB, rare earth magnets per year once it is operational, according to a news release.
A closer look: The site, which will be acquired from Hillwood, is within the AllianceTexas development and was selected following a national site evaluation process led by CBRE, a commercial real estate company.
MP Materials is expected to invest more than $1.25 billion into the project and create 1,500 direct manufacturing and engineering jobs with an average annual salary of $74,315, according to previous reporting.
Quote of note: “AllianceTexas continues to attract advanced manufacturing that creates jobs, diversifies our economy and strengthens America’s supply chain,” Hillwood Chair Ross Perot Jr. said.
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