Topics like the expansion of electric vehicles and the increasing number of rare earth facilities are commonplace in the world of magnets. Such plans are usually slated to take place overseas, in the United Kingdom or other parts of Europe. This time, a long-time magnet manufacturer has announced a massive project that will bring jobs, increased availability of EVs, and more to the United States. 

An Exciting Venture 

This new project is the brainchild of e-VAC Magnetics (e-VAC), which has established itself as a leader in the development of rare earth technology for decades. e-Vac is known in the industry for producing rare earth neodymium-iron-boron magnets that are used in renewable energy applications, transportation, and more. Their new U.S. facility will be located at the Pocotaligo Industrial Park in Sumter County, South Carolina, and will create around 300 jobs, according to South Carolina Governor Henry McMaster. 

 

Employees will even be recruited and trained through the readySC program, South Carolina’s Technical College System. As for the facility itself, the main goal is to produce permanent magnets to meet the increased demand for electric vehicles and defense applications.

Crucial Investments 

Speaking of defense applications, e-VAC and the U.S. Department of Defense made a $94.1 million agreement that includes the installation of manufacturing equipment, the use of production lines, and more. This is one of the numerous government programs that has pledged money to the project. Sumter County secured a $13 million grant from the Rural Infrastructure Fund through the S.C. Coordinating Council for Economic Development. This money will go towards improving nearby roads, acquiring the land, site preparation, etc. The county brought in an additional $2 million from the LocateSC grant, which will improve infrastructure at the industrial park. In total, early projections are that the project will bring in a half-billion dollars in investments. 

 

According to project officials, services are expected to be online by the fall of 2025.

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