Vulcan Elements Inc. will operate a $1 billion rare-earth magnet plant in Benson. The facility will generate 1,000 jobs over four years. State officials say it will be the largest rare-earth magnet manufacturer outside China.
Rare-earth magnets power motors, sensors, generators, and actuators. Defense systems depend on them. Company executives who met with county officials during site selection have military experience, said Chris Johnson, who directs economic development for Johnston County.
“North Carolina is a natural home for Vulcan Elements’ next stage,” said Vulcan Elements CEO John Maslin. “We need to draw on world-class talent, innovation, and infrastructure as we secure one of the 21st century’s most important supply chains. As home to our current facility, North Carolina has proven that it has all three. And as we create 1,000 new American jobs, we will tap into the region’s deep bench of experience across industries – from engineers and technicians who understand hardware and manufacturing to military veterans who have spent their careers managing complex supply chains, operating heavy machinery, and serving their country.”…