Company/Division name | MP Materials Corp. |
Parent company | MP 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) reshored | alloy 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 |