USA Rare Earth Announces $1.2 Billion Rare Earth Magnet Factory in Blacksburg, South Carolina

USA Rare Earth announced on June 2 the selection of Cherokee County, South Carolina as the site of a new magnet manufacturing and refined metals operation in Blacksburg.

A $1.2 billion facility at Bailey Industrial Park

The $1.2 billion facility, to be located in the Bailey Industrial Park, is expected to create approximately 490 high-skill, high-wage manufacturing jobs.

6,400 metric tons of magnets a year

The plant will produce 6,400 metric tons per year of sintered neodymium-iron-boron permanent magnets, along with 5,000 metric tons of strip-cast metal and alloy.

Commissioning targeted for 2028

Engineering and equipment procurement are underway, with site work expected to begin in the coming months and full commissioning targeted for 2028. The project is supported by up to $1.6 billion in CHIPS Act funding.

The next critical link in the value chain

Barbara Humpton, CEO of USA Rare Earth, said:

“Cherokee County is the next critical link in the rare earth and magnet value chain we’re building across the United States, the United Kingdom, Europe and around the globe. South Carolina offered the workforce, the infrastructure and the partners we needed to move quickly. With this investment, we’re bringing home the advanced manufacturing capabilities that America and its allies depend on, from the factory floor to the front lines.”