Niron Magnetics, the Twin Cities-based company working to shake up the magnet industry with rare-earth-free tech, is shopping for a site big enough to hold a roughly 1.6 million-square-foot factory that would mass-produce its iron nitride magnets. If the project goes forward, the new facility would be many times larger than the company’s already-announced Sartell plant and would mark a major scale-up of a technology that has automakers and defense contractors paying close attention. It is also another sign of how quickly the effort to bring magnet supply chains back inside U.S. borders is speeding up.
According to Twin Cities Business Journal, Niron is asking communities to nominate potential sites for the massive factory and has set an April 3 deadline to get properties in front of the company. The Business Journal reports the proposed building would span about 1.6 million square feet, roughly eight times the size of Niron’s Sartell facility, and says construction could start as early as 2028. The outlet describes the expansion as a potential billion-dollar project.
Company Already Moving In Sartell
According to Niron Magnetics, the company broke ground last year on a roughly 190,000-square-foot Plant 1 in Sartell that is expected to open in early 2027 and create about 175 full-time jobs. Niron says Plant 1 will be the world’s first full-scale iron nitride magnet manufacturing site and notes that it is being built on land that once housed the Verso Paper Mill. Engineering firm Wood has been hired to provide EPCM services for the Sartell project and to help Niron scale production for automakers, defense contractors and electronics manufacturers.
Why Rare-Earth-Free Magnets Matter
Industry coverage has highlighted a tightening market for rare-earth materials that has manufacturers scrambling for alternatives, and Tech Brew cites CEO Jonathan Rowntree saying demand for Niron’s magnets jumped after China restricted rare-earth exports. Niron’s iron nitride magnets rely on abundant iron and nitrogen instead of rare earths, which the company and its backers argue can cut supply-chain risk for electric vehicles and clean-energy hardware. That pressure in the market is a key reason Niron executives told reporters they are speeding up plans for a much larger second plant.
Local Economic Stakes
The Sartell project has already drawn public backing. Niron received a $10 million award from the Minnesota Forward Fund to advance Plant 1, and the city also secured a public infrastructure grant tied to the redevelopment of the former mill site, according to a company release. Plant 1 is expected to create roughly 175 permanent jobs, and Niron has pointed to partnerships and investment interest from major manufacturers as it ramps up production. A second, 1.6 million-square-foot facility would mean a much larger construction and hiring footprint, although the company has not released final job estimates for that project.
What's Next
Communities that can offer large industrial parcels, strong electric service and convenient rail or highway access are expected to be top contenders as Niron invites nominations. Twin Cities Business Journal reports that nominations are due April 3 and that construction on the plant could begin as early as 2028. Local economic development teams have already been busy around Niron’s Sartell announcement, and officials in other states are likely to pitch their own sites as the search plays out. For now, the project is a clear sign that the push to onshore critical-materials manufacturing is moving from pilot plants to full industrial scale.
