Noveon Magnetics Celebrates Grand Opening of Manufacturing Facility

June, 2023

Noveon Magnetics Celebrates Grand Opening of Manufacturing Facility

It’s official! Last month, Noveon Magnetics and the Greater San Marcos Chamber of Commerce proudly cut the ribbon on our 150,000+ square foot headquarters and marked the formal Grand Opening of our state-of-the-art manufacturing facility in San Marcos, Texas.

After more than a decade of research and development, innovation, and good old-fashioned grit and determination, Noveon Magnetics has officially emerged as the only fully active producer of sintered NdFeB magnets in North America as well as a leader in the effort to build a secure domestic rare earth magnet supply chain that is capable of meeting the demands of an electric future. 

But we didn’t reach this important milestone alone. Since our founding, Noveon has grown from a small core group of individuals to a team of 65 purpose-driven team members who continue to drive our mission forward. The official Grand Opening of our San Marcos facility is a true testament to the hard work, dedication, and positive contributions of each and every one of us. 

The Noveon team was joined in celebration by family, friends, and an additional 100 customers, partners, investors, elected officials, and community organizations – to name a few – all of whom played an instrumental role in ushering in Noveon’s vision for a new era of sustainable, high-tech magnet manufacturing.

The Grand Opening festivities began with an insightful press conference featuring remarks from: 

  • Scott Dunn, Chief Executive Officer, Noveon Magnetics

  • Page Michel, President & CEO, San Marcos Chamber of Commerce

  • Adriana Cruz, Executive Director of the Texas Governor’s Office of Economic Development & Tourism and former President of the Greater San Marcos Partnership

  • Thomas Lograsso, Director, Critical Materials Institute at Ames Laboratory, U.S. Department of Energy

  • Dr. Gene Bourgeois, Provost, Center for Innovation & Entrepreneurship at Texas State

  • Mayor Pro Tem Mark Gleason, San Marcos City Council Member

Notably, Tom Lograsso, Director of the Critical Materials Institute at Ames Laboratory, opined on the importance of Noveon’s innovative recycling technology, stating that:

“[The Critical Materials Institute] has always done whatever we can to back companies like Noveon Magnetics that are working hard to address our nation’s rare earth supply chain challenges through sustainable, circular economy solutions. Without these innovative technology solutions, we won’t be able to meet our clean energy targets and broader climate goals.”

The press conference also highlighted the many ways in which Noveon is supporting our local community and fueling the Texas economy. 

“[Noveon’s] growing presence here in the Lone Star State will continue to make a positive impact on the Texas Innovation Corridor,” said Texas Economic Development & Tourism Director Adriana Cruz. 

Our San Marcos facility is expected to bring an additional 100+ manufacturing jobs to the Texas innovation corridor and provide a significant tax base boost to the City of San Marcos, Hays County, and the San Marcos Consolidated Independent School District over the next decade.

“Thriving communities are built through smart planning, collaboration and dedication; and as a member of the Greater San Marcos partnership, Noveon Magnetics is a great example of these efforts," said Page Michel, President & CEO of the Greater San Marcos Chamber of Commerce. “Noveon is also committed to creating jobs right here in San Marcos: they have already doubled their workforce since the opening of this facility, and plan to continue expanding their workforce and investing in local talent.”

The press conference and formal ribbon cutting ceremony was followed by a Texas-style celebration, complete with BBQ prepared on-site and a performance by the talented local country music band, 3 Chord Rodeo.

We have come a long way since our founding, and we could not be more grateful for all those who joined us to celebrate this important milestone. The commercialization of our magnet manufacturing technology is the next step toward achieving resource independence, resource efficiency, and a low-carbon economy.