# Vulcan Elements plans $920M rare-earth magnet factory in Benson, NC

Vulcan Elements is building a $920 million rare-earth magnet factory in Benson, North Carolina, with the state fast-tracking a power line for the project. The plant aims to reduce U.S. reliance on Chinese rare-earth magnets.

- Type: New facility
- Announced: 2026-11-05
- Where: Benson, North Carolina, United States
- Value: $920.0M
- Status: announced
- Products: rare-earth magnets
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

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

## Sources

- [springfieldohio.org](https://springfieldohio.org/article/nc-fast-tracks-power-line-for-920m-rare-earth-magnet-factory-national-security-job-boost), 2026-11-05: "Vulcan Elements, the company behind the $920 million plant, isn't just another manufacturer."
- [gspcsa.org](https://gspcsa.org/article/nc-fast-tracks-power-line-for-920m-rare-earth-magnet-factory-national-security-job-boost), 2026-11-05: "Vulcan Elements, the company behind the $920 million plant, isn't just another manufacturer."
- [calegiondistrict13.org](https://calegiondistrict13.org/article/nc-fast-tracks-power-line-for-920m-rare-earth-magnet-factory-national-security-job-boost), 2026-11-05: "this factory matters"
- [thegvt.org](https://thegvt.org/article/nc-fast-tracks-power-line-for-920m-rare-earth-magnet-factory-national-security-job-boost), 2026-11-05: "this factory matters"

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