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Niron Magnetics is starting a site selection process for a new 1.6 million square foot high-volume manufacturing plant in the U.S. This facility will support national production of Iron Nitride permanent magnets critical for automotive, consumer electronics, industrial, and defense sectors.

The plant aims to produce up to 10,000 tons annually and capture 1-2% of the global market share. The project involves an estimated $1.8 billion investment and is projected to create over 700 jobs. The construction is set to begin in early 2028, with site evaluation focusing on transportation access, energy capacity, and workforce availability.