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) reshored | EcoFlux 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 |