Noveon targets rare earth magnet production with recycled inputs

URLhttps://www.recyclingtoday.com/news/noveon-targets
SourceRecycling Today
Date Published02/10/2023
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Noveon Magnetics Inc.
Type of work Manufacturing
Reshoring category:Reshoring
Year reshoring announced:2023
Domestically, the work will be done:In-house
Capital investment ($):28.8
City reshored to:San Marcos
State(s) reshored to:TX
If relevant, work nearshored to:-
Industry(ies):Computer & Electronic Products
Product(s) reshoredEcoFlux magnets
What non-domestic negative factors made offshoring less attractive?Green considerations, Supply chain interruption risk/Natural disaster risk/Political instability
What domestic positive factors made reshoring more attractive?Government Incentives
Government Incentive dollar amount:$28.8 million DoD investment
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