ECONOMIC DEVELOPMENT
USA Rare Earth
Stillwater is now home to America ’ s first rare earth metal manufacturing plant , USA Rare Earth . USA Rare Earth plans to invest $ 100 million to create this one of a kind facility .
After touring over 50 sites in nine different states , Rare Earth settled on a 309,000 square foot facility built by the World Color Press in the 1970 ’ s . “ We were looking for the traditional things in site selection — a business-friendly environment , a good tax regime , good infrastructure , and low-cost power , ‘’ said Thayer Smith , President of USA Rare Earth . “ Stillwater is where Oklahoma State University is located with good geology and engineering departments . The state has rich history in energy , meaning oil field services companies , chemical and energy refining companies . There is a good workforce there that understands industrial technology . We put those things together , and said Oklahoma really is the ideal place ”.
The Stillwater Chamber of Commerce ’ s economic development team worked tirelessly to land USA Rare Earth in Stillwater . They are expected to begin production in 2023 , creating at least 100 jobs , and generating more than $ 6.6 Million in annual wages . “ That ’ s what it ’ s all about ”, said Justin Minges , former Chamber President and CEO , “ Our job is to look for companies like this that will provide a more prosperous economy here in Stillwater . I can ’ t tell you how much work the economic development team put into not only recruiting USA Rare Earth , but making this space worthwhile for them as well .”
On June 9th , 2022 , the project ’ s leaders gathered in the new site to announce the launch of USA Rare Earth in Stillwater . They were joined by Governor Kevin Stitt .
“ This is truly a once-in-a-generation announcement for our city , for our state , for our
Senator Tom Dugger , Former Chamber President & CEO Justin Minges , Jessica Springer , Rare Earth President Thayer Smith , Governor Kevin Stitt , Mayor Will Joyce , deputy city manager Melissa Reames , House Representative Trish Ranson , and Secretary of Energy and Environment Ken Wagner country .” Currently , this kind of manufacturing is only happening in China , making the US and much of the world reliant on them for these materials . “… This is a huge win for the state of Oklahoma , but it ’ s also , I believe , a huge win for our country , as well . Now , the United States can stop relying on China for these resources and start counting on Oklahoma … If you think about it , it doesn ’ t make sense for our Army , our Navy , our Marines to rely on China for our defense technologies . It ’ s dangerous for our security ” Stitt added .
Stillwater is looking forward to welcoming
USA Rare Earth to town . The state of Oklahoma and the city of Stillwater offer a unique business , labor and operating environment for USA Rare Earth and will be a catalyst for economic development ,” Stillwater Mayor Will Joyce said . “ We are excited to work alongside USA Rare Earth , state and local leaders and our residents to solidify a healthy economy , productive workforce and vibrant community .”
Story by Grace Welch
This is truly a once-in-a-generation announcement for our city , for our state , for our country . This is a huge win for the state of Oklahoma , but it ’ s also , I believe , a huge win for our country , as well . — GOVERNOR KEVIN STITT
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COMMERCE | 2023 Profile Magazine of the Stillwater Chamber of Commerce