Rare Earth Magnets Campus Planned for DFW

Rare earth magnets manufacturing hub coming to Northlake as MP Materials invests $1.25B in Dallas-Fort Worth for new 10X magnet campus.

March 4, 2026

Valerija I.

MP Materials to develop $1.25B rare earth magnets facility in Northlake, within Dallas-Fort Worth.
The campus, named 10X, will expand annual magnet production capacity to around 10,000 metric tons.
An incentive package valued at $200M includes local and state grants, abatements, and exemptions.
US Department of Defense agreed to purchase all 10X-produced magnets for 10 years and invest $400M in MP Materials stock.

Key Takeaways

Major Magnet Manufacturing Investment

Bisnow reports that MP Materials Corp. will build a rare earth magnets campus in Northlake, a growing suburb north of Fort Worth. The $1.25B facility will rise within the AllianceTexas development. The project aims to establish Dallas-Fort Worth as a hub for rare earth magnet manufacturing. These magnets support critical industries, including defense, data centers, and semiconductors.

The new 10X campus spans 120 acres and is less than 10 miles from MP Materials’ existing Fort Worth facility. It will lift the company’s annual magnet production to about 10,000 metric tons. Construction is scheduled to begin soon, and operations are planned to start following final testing in 2028.

Support and Partnerships

The project secured a $200M incentive package from Northlake, Denton County, and the state of Texas. The package includes grants and tax abatements to support development. The campus will also help reduce US reliance on foreign rare earth magnets. MP Materials will supply raw materials from its mining operations in California.

As part of its public-private partnership with the US Department of Defense, MP Materials secured commitments for both stock investment and long-term purchase agreements. The site selection process was managed by CBRE, with the property acquired from Hillwood.

Strategic Growth in North Texas

North Texas continues to attract advanced manufacturing, including other defense-related sectors. Nearby, drone maker EagleNXT recently relocated its headquarters to Allen, while major real estate activity across the region continues to draw capital, including a recent $1.25B refinancing tied to Manhattan’s Hudson Yards megadevelopment. Larger defense and autonomy projects are also underway in other states. MP Materials’ rare earth magnets expansion further cements DFW’s role in national critical supply chains.