Department of Defense Awards $4.22 Million to Increase Production of Terbium and Other Rare Earth Elements

URLhttps://www.defense.gov/News/Releases/Release/Arti
SourceU.S. Department of Defense
Date Published09/09/2024

Additional Reshoring Information:

Company/Division name Rare Earth Salts
Parent companyRare Earth Salts
Type of work Manufacturing
Reshoring category:Reshoring
Year reshoring announced:2024
Year reshoring implemented or to be implemented:2024
City reshored to:Beatrice
State(s) reshored to:NE
If relevant, work nearshored to:-
Industry(ies):Computer & Electronic Products
Product(s) reshoredTerbium Oxide for Rare Earth Magnets
What non-domestic negative factors made offshoring less attractive?Green considerations, Supply chain interruption
What domestic positive factors made reshoring more attractive?Eco-system synergies, Government Incentives, Impact on domestic economy, Manufacturing/engineering joint innovation (R&D), Raw Materials Cost
Government Incentive dollar amount:4.22
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