Niron Magnetics Backs Federal Bill to Cut U.S. Reliance on Chinese Rare Earth Magnets

(KNSI) — A company building a manufacturing facility in Sartell wants to wean American manufacturers off Chinese rare earth magnets, and Congress may be ready to help.

Niron Magnetics produces rare-earth-free permanent magnets and is backing the Magnets Value Chain Support Act of 2026. The bill would create the first federal framework offering tax credits of up to 15% to both domestic magnet producers and the manufacturers that use their products. The bill is technology-neutral, meaning Niron’s Iron Nitride magnets qualify for credits alongside conventional rare-earth magnets for the first time under federal policy.

CEO Jonathan Rowntree called the legislation “an important milestone” for both Niron and the broader domestic supply chain.

The company broke ground in September on a state-of-the-art, 190,000-square-foot permanent magnet manufacturing facility in Sartell, on the former Verso Paper Mill site. The plant is expected to produce 1,500 tons of product per year once complete. Niron is also in the early stages of site selection for a much larger facility targeting 10,000 tons annually, which could bring significant manufacturing jobs to the region.

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