USA Rare Earth broke ground on a $1.2 billion magnet manufacturing facility in Blacksburg, South Carolina, 45 minutes west of Charlotte. The facility will create 490 jobs.
The magnets and refined metals produced in Blacksburg will support needs in the defense, aerospace, semiconductor, medical, AI, energy and advanced manufacturing industries. Blacksburg was selected for its power access, workforce and construction timeline. Duke Energy says it can accommodate the power needs.
The company plans to have the 800,000-square-foot facility’s shell built by 2027, with operations online in April 2028…