Biden Announces $35 Million Investment in Domestic Rare Earth Elements Supply Chain

URLhttps://www.americanmanufacturing.org/blog/biden-a
SourceAmerican Manufacturing
Date Published02/23/2022
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name MP Materials Corp.
Type of work Manufacturing
Reshoring category:Reshoring
Total number of jobs (added or to be added):350
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2024
Capital investment ($):735
City reshored to:Mountain Pass
State(s) reshored to:CA
If relevant, work nearshored to:-
Industry(ies):Nonmetallic Mineral Products
Product(s) reshoredrare earth minerals
What non-domestic negative factors made offshoring less attractive?Supply chain interruption risk/Natural disaster risk/Political instability
What domestic positive factors made reshoring more attractive?Government Incentives, Raw Materials Cost
Government Incentive dollar amount:$35 million
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