The site is 10 miles north of MP Materials\u2019s Fort Worth plant<\/a> near U.S. 377 and Texas 170.<\/p>\n Once completed, the plant will make North Texas \u201cthe center of gravity\u201d for the United States\u2019 rare earth magnet supply chain, a company press release said.<\/p>\n 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.<\/p>\n 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.<\/p>\n The plant \u201cis about building industrial strength at a scale the United States has not seen in generations,\u201d MP Materials CEO James Litinsky said in the company\u2019s press release.<\/p>\n The United States has been dependent on foreign manufacturers, especially those in China, for refining and manufacturing of rare earth minerals and magnets.<\/p>\n \u201cThe Chinese Communist Party represents the most acute national security threat to the United States,\u201d Texas Sen. Ted Cruz said in the press release.<\/p>\n \u201cMP Materials is building the infrastructure needed to undo that dependence and bolster American national security,\u201d he said.<\/p>\n 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\u2019s press release.<\/p>\n \u201cWorking together with innovative industry partners, Texas will accelerate America\u2019s leadership for decades to come,\u201d Abbott said.<\/p>\n \u201cMP 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,\u201d Hillwood chairman Ross Perot Jr. said in the company press release.<\/p>\n The plant is expected to open in 2028.<\/p>\n Related Stories from Fort Worth Star-Telegram<\/p>\n