# 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.

- Type: New facility
- Announced: 2025-11-18
- Where: Benson, Johnston County, North Carolina, United States
- Value: $918.1M
- Jobs: 1,000
- Status: announced
- Capacity: 10,000 metric tonnes per year
- Products: Neodymium Iron Boron rare earth magnets
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Automotive Components](https://endata.com/sectors/automotive-components.md), [Aerospace Components](https://endata.com/sectors/aerospace-components.md)

## Companies

- [Vulcan Elements](https://endata.com/companies/16200.md)

## Sources

- [commerce.nc.gov](https://www.commerce.nc.gov/news/press-releases/2025/11/18/governor-stein-announces-vulcan-elements-selects-johnston-county-1000-job-magnet-factory-investing), 2025-11-18: "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."
- [einpresswire.com](https://www.einpresswire.com/article/868454287/governor-stein-announces-vulcan-elements-selects-johnston-county-for-1-000-job-magnet-factory-investing-nearly-1-billion-in-the-town-of-benson), 2025-11-18: "North Carolina is a natural home for Vulcan Elements’ 10,000 metric ton facility."
- [researchtriangle.org](https://researchtriangle.org/nl/news/vulcan-elements-selects-johnston-county-for-1000-job-magnet-factory/), 2025-11-19: "Vulcan Elements, a manufacturer of Neodymium Iron Boron rare earth magnets, has selected Benson, North Carolina, for a $1 billion rare earth magnet manufacturing facility."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.