North Carolina startup Vulcan gets $1 billion for new rare-earth magnets factory

URLhttps://www.axios.com/local/raleigh/2025/11/03/nor
SourceAxios Raleigh
Date Published11/03/2025
Author NameZachery Eanes

Additional Reshoring Information:

Company/Division name Vulcan Elements with ReElement Technologies
Parent companyVulcan Elements with ReElement Technologies
Type of work Manufacturing
Reshoring category:Reshoring
Year reshoring announced:2025
Domestically, the work will be done:In-house
Capital investment ($):1,000
If relevant, work nearshored to:-
Industry(ies):Primary Metal Products (not including Foundries and Castings)
Product(s) reshoredneodymium iron boron magnets
What non-domestic negative factors made offshoring less attractive?Strained offshore relationships
What domestic positive factors made reshoring more attractive?Eco-system synergies, Government Incentives, Govt. Policy and subsidies
Government Incentive dollar amount:670,000,000
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