Vulcan Elements to build $918M magnet factory in Benson, North Carolina
Vulcan Elements Inc. will invest $918.1 million to build a 1 million-square-foot rare earth magnet factory in Benson, Johnston County, North Carolina, creating 1,000 jobs. The plant will have a production capacity of 10,000 metric tonnes of magnets per year.
Capacity
10,000 metric tonnes per year
ProductsNeodymium Iron Boron rare earth magnets
“Vulcan Elements Inc., a manufacturer of rare earth magnets, will invest $918.1 million in the town of Benson to expand its magnet production capacity and establish the largest magnet factory in the world outside of China.”commerce.nc.gov
- 3 sources
- commerce.nc.govGovernor Stein Announces Vulcan Elements Selects Johnston County for 1,000-Job Magnet Factory, Investing Nearly $1 Billion in the Town of Benson | NC CommerceNov 18, 2025
- einpresswire.comGovernor Stein Announces Vulcan Elements Selects Johnston County for 1,000-Job Magnet Factory, Investing Nearly $1 Billion in the Town of BensonNov 18, 2025
- researchtriangle.orgVulcan Elements Selects Johnston County for 1,000-Job Magnet Factory - Research Triangle Regional PartnershipErin SmithNov 19, 2025
Summarized from public sources; check the original articles before acting on it.
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