San Marcos City Council Unanimously Approves Agreement For Rare Earth Magnet Headquarters & Manufacturing Facility

The 100,000 square foot facility will be constructed on 10 acres and adds more than 100 advanced manufacturing and technology jobs to San Marcos and Hays County over the terms of the agreements.

Tuesday night, the City of San Marcos City Council unanimously voted in favor of entering into a performance-based Chapter 380 Agreement with Urban Mining Company, the only NdFeB producer in the U.S.

Urban Mining Company is also pending approval of a performance-based Chapter 381 Agreement with Hays County, which is expected to be voted on next week.

Urban Mining Company has selected San Marcos, Texas as the location of its headquarters and state-of-the-art NdFeB magnet manufacturing laboratory facility.

The agreements with Urban Mining Company include a ten-year personal property tax rebate at 75 percent and a ten-year real property tax rebate at 25 percent.

The 100,000 square foot facility will be constructed on 10 acres and adds more than 100 advanced manufacturing and technology jobs to San Marcos and Hays County over the terms of the agreements. All incentivized jobs will pay more than $15 per hour in accordance with City of San Marcos policy.

It is GSMP’s policy not to comment on active projects. Pending the County’s vote, GSMP will issue a press release when the deal is complete.

What they can say

  • The Greater San Marcos region is poised for growth in the advanced manufacturing industry due to the presence of Texas State University with over 38,000 students and its ideal location equidistant between Austin and San Antonio along I-35.
  • Corporate headquarters are desirable in the region because they elevate an area’s profile and increase credibility as a great location to do business.
  • There are currently 14 corporate headquarters and 166 manufacturing facilities in the Greater San Marcos region according to the latest County Business Patterns report from the U.S. Census Bureau. 

ACCORDING TO WIKIPEDIA:neodymium magnet (also known as NdFeBNIB or Neo magnet), the most widely used[1] type of rare-earth magnet, is a permanent magnet made from an alloy of neodymiumiron and boron to form the Nd2Fe14tetragonal crystalline structure. [2] Developed in 1982 by General Motors and Sumitomo Special Metals, neodymium magnets are the strongest type of permanent magnet commercially available.[2][3] They have replaced other types of magnets in the many applications in modern products that require strong permanent magnets, such as motors in cordless tools, hard disk drives and magnetic fasteners.


 

Share
Published by
Staff

Recent Posts

San Marcos City Council reviews Sidewalk Maintenance and Gap Infill Program

The San Marcos City Council received a presentation on the Sidewalk Maintenance and Gap Infill…

2 years ago

San Marcos River Rollers skate on and rebuild

The San Marcos River Rollers have skated through obstacles after taking a two-year break during…

2 years ago

After 8 Years, San Marcos Corridor News Bids Our Readers Farewell

San Marcos Corridor News has been reporting on the incredible communities in the Hays County…

2 years ago

High bacteria levels at Jacobs Well halts swimming season

Visitors won't be able to swim in the crystal clear waters of the Jacobs Well Natural…

2 years ago

Pets of the Week: Meet Sally & Nutella!

Looking to adopt or foster animals from the local shelter? Here are the San Marcos…

2 years ago

Texas still leads in workplace deaths among Hispanics

The Lone Star State leads the nation in labor-related accidents and especially workplace deaths and…

2 years ago

This website uses cookies.