Battery maker Vulcan Elements will bring 1,000 new jobs to Johnston County
BENSON, N.C. (WTVD) -- A large crowd gathered in Johnston County on Tuesday for a major economic announcement.
Vulcan Elements chose Benson for a new magnet factory.
The project will bring 1,000 new jobs to the area, and the company is investing nearly $920 million in the town.
Vulcan makes rare earth magnets, a key component in electric vehicles, cell phones, and items for the military.
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Earlier this month, the company announced a $1.4 billion partnership with the federal government, and the government is getting an equity stake in the company.
The company also has a Durham location, and Vulcan CEO John Maslin explained why the company again chose North Carolina.
"It's a state that's open for business. It's easy to work with local and state officials," Maslin said. "The biggest thing is the talent. A Ph.D. is chemical, electrical and mechanical engineers, sophisticated technicians. We're able to tap into the Research Triangle, places like Fort Bragg, all the biomanufacturing expertise here in this part of the state."
Vulcan plans to announce more information about its Johnston County operations in the coming months.
