Contributed by Johnston County Economic Development
Research Triangle Park-based Vulcan Elements is set to create 1,000 manufacturing jobs in Johnston County. The manufacturer of Neodymium Iron Boron rare earth magnets has selected Benson for a rare earth magnet manufacturing facility.
Vulcan Elements recently announced a $1.4 billion partnership with the U.S. government to expand their magnet manufacturing capacity and will execute this partnership in its newly announced facility in Benson, which is expected to exceed 1 million square-feet.
R.S. “Butch” Lawter, Jr., Chairman of the Johnston County Board of Commissioners, expects the project to add significant diversification to the local economy.
“This important opportunity brings new jobs, new public revenues and state-of-the-art technology to Johnston County,” Lawter said. “Equally important, this company, this facility and our county will be a key asset in U.S. national security and the nation’s competitive economic position. We look forward to supporting Vulcan Element as it creates its home here and goes about its historic work.”
Vulcan Elements will operate out of Crosspoint Logistics Center, a 90-acre industrial property at 230 Morgan Road in Benson. The site currently houses a 501,000-sq.-ft industrial building, which Vulcan will expand to encompass over 1 million square-feet.
The company’s operations are expected to have a significant economic and fiscal impact on Johnston County’s economy. Its payroll alone will result in nearly $90 million in annual impact.
