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MP Materials Corp. has chosen a 120-acre site in Northlake, Texas, for its new rare earth magnet manufacturing campus, branded as “10X.” The property is situated less than 10 miles from the company’s existing Independence facility in Fort Worth, positioning the new development close to MP Materials’ current operations and labor base.
The company plans to invest more than $1.25 billion in the project, which it describes as the largest and most strategic rare earth magnet manufacturing asset in the United States. The planned large-scale campus is intended to expand domestic production capacity for rare earth magnets, a key input for advanced manufacturing and technology-related industries.
MP Materials expects the Northlake campus to generate more than 1,500 direct manufacturing and engineering jobs once the facility is up and running. The company anticipates breaking ground on the project imminently, indicating that site work and early development activity are likely to begin in the near term, although a specific construction timeline has not been disclosed.
The development is supported by a public-sector incentive package assembled by multiple jurisdictions in Texas. The State of Texas, Denton County, and the City of Northlake have approved a comprehensive package valued at roughly $200 million over a period of more than a decade. The incentives include a mix of grants, tax abatements, and exemptions designed to support the build-out and operation of the magnet manufacturing campus.
Within this package, more than $66 million in grants will come from two statewide programs: the Texas Enterprise Fund (TEF) and the Texas Semiconductor Innovation Fund (TSIF). These programs are being used to channel state-level economic development support to the MP Materials project, reflecting a public-policy focus on advanced manufacturing and strategic materials.
In addition to state and local support, the project is tied to substantial federal backing for the company. The US Department of War is investing $700 million into MP Materials, adding another layer of public capital behind the enterprise. While the specific structure of this federal investment is not described, it underscores the strategic importance placed on rare earth magnet production capacity and supply-chain resilience at the national level.
Combined, the large planned capital investment, extensive incentive commitments, and expected job creation make the 10X campus a significant industrial development for Northlake and the greater Fort Worth area. For the commercial real estate market, the project points to ongoing demand for large tracts of industrial land and supporting infrastructure in established logistics and manufacturing corridors.
The post MP Materials Picks Northlake Site for $1.25B ‘10X’ Rare Earth Magnet Campus Near Fort Worth appeared first on CRE Market Beat.
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