New factory going up to supply GM with materials for upcoming EVs

URLhttps://www.freep.com/story/money/cars/general-mot
Sourcehttps://www.freep.com
Date Published04/21/2022
Author NameJamie L. LaReau
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name MP Materials Corp.
Parent companyMP Materials Corp.
Type of work Manufacturing
Reshoring category:Reshoring
Total number of jobs (added or to be added):150
What product(s) and/or service(s) were outsourced domestically?Manufacturing
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2023
Domestically, the work will be done:In-house
City reshored to:Fort Worth
State(s) reshored to:TX
If relevant, work nearshored to:-
Industry(ies):Fabricated Metal Products, Transportation Equipment
Product(s) reshoredalloy and finished magnets
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, Skilled workforce availability/training
Government Incentive dollar amount: $35 million grant from the Department of Defense
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