USA Rare Earth leases 800k sq ft SC facility, secures $400M+ tax incentives for $1.2B project

Filed June 2, 2026 · Period ending June 1, 2026 · ~1 min read

Key Changes

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  Signed 20-year lease for 800,000 sq ft rare earth magnet facility in Blacksburg, SC; base rent tied to final project costs with 2.5% annual escalations and two 10-year extension options.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
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  Secured Cherokee County tax incentives requiring minimum $400M investment over 8 years (extendable to 13) and creation of ~325 jobs; reduced 4% property assessment for up to 40 years.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
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  $1.2B total project investment targeting 490 jobs, 6,400 metric tons/year magnet capacity and 5,000 metric tons/year metal/alloy capacity; commissioning targeted for 2028.

  Exhibit 99.1 view on EDGAR →