Manufacturing Company Will Relocate Facility To Stillwater In 2023

News 9 - June 9, 2022 9:20 pm

STILLWATER, Oklahoma – 

A new magnet-making facility is coming to Stillwater. The company is hoping to create a domestic supply chain.

By 2023, the factory is expected to be producing magnets that, at this time, are only produced offshore.

“This is a win for Stillwater, and it’s a win for Oklahoma,” Stillwater mayor Will Joyce said.

The company, USA Rare Earth, uses metals to make magnets like those found in cell phones and electric batteries.

Rare Earth president Thayer Smith said the company wants to establish a domestic supply chain of rare earth mineral products.

“We are locating our metals and magnets facility here,” Smith said. “We also have a mining project in Texas that will be supporting this, but this will really be the epicenter and the hub of building this resilient supply chain.”

The project is expected to create 100 high-wage jobs and work with Oklahoma State University for research and qualified staff.

“The research capabilities and resources of our educational institutions are key, for sure, as this facility will come alongside ongoing research projects already underway here in advanced materials and critical minerals,” Joyce said.

Environmental quality permits are still in the works. Smith said the manufacturing process happening at the new facility will emit minimal emissions.

“We’ll be working hand-in-hand with the DEQ (Department of Environmental Quality) to make sure that we’re doing it right,” Smith said.

USA Rare Earth is investing $100 million to bring the new facility to Stillwater.

Manufacturing Company Will Relocate Facility To Stillwater In 2023

 

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