Greater St. Cloud Development Corporation, Niron Magnetics Extend Partnership For Sartell Plant

(KNSI) – Niron Magnetics and the Greater St. Cloud Development Corporation have entered into a formal partnership to ensure the new 190,000-square-foot factory being built in Sartell by Niron is a success.

The facility is scheduled to assemble 1,500 tons of iron nitride magnets per year. The technology is being eagerly watched by potential customers from the automotive, robotics, and defense industries since the design does not include rare earth minerals, most of which come from China. Geopolitical worries have caused concern among the business community that they might lose access to rare earth minerals at a moment’s notice, something that could cripple operations.

GSDC and Niron partnered to negotiate an incentives package that brought the facility to Sartell. The agreement includes a stipulation to create 175 full-time jobs in high-paying fields like advanced manufacturing and engineering. The new pact will help ensure the plant reaches its full potential.

Niron CEO Jonathan Rowntree says, “The Greater St. Cloud Development Corporation has been an incredible partner throughout this process, ensuring that our investment not only creates jobs but also delivers lasting benefits for the greater Sartell community.”

GSDC CEO and President NeTia Bauman stresses the importance of Niron to all of central Minnesota. “As the regional economic development organization for Central Minnesota, the GSDC is proud to help attract and support projects like Niron Magnetics’ Sartell facility, which represent efforts that expand opportunity not just for one city, but for the broader region we serve.”

The factory will be built on what used to be a former landfill for the old Verso Paper Mill.

___