Magnet maker MP Materials is doubling down on North Texas.
The company announced it is building a plant, named “10X” on 120 acres site in the Northlake portion of the AllianceTexas development.
The company first announced plans for the plant in July 2025 through a partnership with the Department of Defense, however, its location was undisclosed.
The site is 10 miles north of MP Materials’s Fort Worth plant near U.S. 377 and Texas 170.
Once completed, the plant will make North Texas “the center of gravity” for the United States’ rare earth magnet supply chain, a company press release said.
MP Materials expects to spend $1.25 billion on the new facility. The project is also benefitting from $200 million worth of state and local grants, tax abatements and exemptions, and a 10-year contract with the Pentagon.
The plant will create 1,500 jobs and produce roughly 10,000 metric tons of rare earth magnets annually for things like electric vehicles, robots, data centers and military technology.
The plant “is about building industrial strength at a scale the United States has not seen in generations,” MP Materials CEO James Litinsky said in the company’s press release.
The United States has been dependent on foreign manufacturers, especially those in China, for refining and manufacturing of rare earth minerals and magnets.
“The Chinese Communist Party represents the most acute national security threat to the United States,” Texas Sen. Ted Cruz said in the press release.
“MP Materials is building the infrastructure needed to undo that dependence and bolster American national security,” he said.
The choice of North Texas for the new plant reflects the strength of the areas work force and its expertise in advanced manufacturing, said Texas Gov. Greg Abbott in the company’s press release.
“Working together with innovative industry partners, Texas will accelerate America’s leadership for decades to come,” Abbott said.
“MP Materials has been a strong partner, and this competitive project demonstrates how city, county, and state leaders work together to secure significant new investment in North Texas,” Hillwood chairman Ross Perot Jr. said in the company press release.
The plant is expected to open in 2028.
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Harrison Mantas has covered Fort Worth city government, agencies and people since September 2021. He likes to live tweet city hall meetings, and help his fellow Fort Worthians figure out what’s going on.