A rare earth magnet manufacturer plans to invest $1.2 billion in a new South Carolina facility, bringing hundreds of jobs to Cherokee County.
Major Manufacturing Project Coming to South Carolina
USA Rare Earth announced plans to build a manufacturing facility in Blacksburg, marking the company’s first operation in South Carolina.
The project represents a $1.2 billion investment and is expected to create 490 new jobs in Cherokee County.
Hundreds of New Jobs
Company officials said wages for the new positions will range from $24.50 per hour to $63 per hour.
The facility will manufacture neodymium-iron-boron magnets, which are used in electric vehicles, semiconductors, satellites, smartphones, robots, MRI machines and other advanced technologies.
Production is expected to begin in April 2028.
State and Local Incentives
As part of the project, South Carolina will provide income tax credits worth $25,000 for each new job created.
Cherokee County also approved property tax incentives to support the development, though specific details of the agreement were not released.
Reducing Reliance on Foreign Supply
The investment comes as the United States works to strengthen domestic production of rare earth materials and reduce dependence on imports.
Company leaders said the new facility will help expand American manufacturing capabilities in critical industries and support supply chains for advanced technology and defense sectors.
State officials said the project further strengthens South Carolina’s growing advanced manufacturing industry and creates new economic opportunities for the Upstate region.
