Company/Division name | MP Materials |
Type of work | Manufacturing |
Reshoring category: | Reshoring |
Year reshoring announced: | 2024 |
Year reshoring implemented or to be implemented: | 2025 |
Domestically, the work will be done: | In-house |
Capital investment ($): | 58.5 |
City reshored to: | Fort Worth |
State(s) reshored to: | TX |
If relevant, work nearshored to: | - |
Industry(ies): | Castings/Foundries - Subset of Primary Metal Products, Primary Metal Products (not including Foundries and Castings) |
Product(s) reshored | rare earth magnets |
What non-domestic negative factors made offshoring less attractive? | Supply chain interruption |
What domestic positive factors made reshoring more attractive? | Government Incentives, Govt. Policy and subsidies, Higher productivity |
Government Incentive dollar amount: | $58.5 million |