ReElement Technologies Announces $46 Million Federal Tax Credit Allocation for Marion Expansion
MARION, IN – November 12, 2026 – ReElement Technologies has announced a $46 million federal New Markets Tax Credit (NMTC) allocation to support the expansion of its rare earth and critical mineral refining operations in Marion, Indiana. The first phase of the project is expected to create 189 jobs, strengthening the region's advanced manufacturing sector and expanding domestic production capabilities.
The expansion will increase U.S. capacity to refine rare earth elements and other critical minerals used in permanent magnets, semiconductors, and defense systems. The federal tax credit allocation will support Phase I refining equipment and working capital needs, complementing ReElement's broader financing strategy.
“This NMTC-supported financing demonstrates how we are pursuing capital-efficient, non-dilutive funding to expand our domestic manufacturing platform while supporting meaningful job creation, competitive wages and accessible pathways to long-term careers in Marion,” said Kirk T., Chief Financial Officer of ReElement Technologies.
Creating Jobs and Workforce Opportunities
Approximately 90% of the 189 projected positions are expected to be accessible to individuals with a high school diploma, creating opportunities for local residents to enter the advanced manufacturing workforce.
The project also includes a $2.1 million commitment to workforce training, with potential career pathways through apprenticeships, two-year degree programs, and advanced technical certifications.
These investments are expected to provide opportunities for residents to develop specialized skills, pursue long-term careers, and advance within the growing critical minerals industry.
Strengthening Grant County's Manufacturing Economy
ReElement's expansion represents a significant investment in Marion and Grant County's manufacturing future. By increasing domestic refining capacity for materials essential to modern technology and national defense, the project supports both national supply chain priorities and local economic development.
The anticipated creation of 189 jobs, combined with substantial workforce training investments, offers opportunities to strengthen the region's skilled labor force and support continued economic growth.
The announcement also highlights Grant County's role in emerging advanced manufacturing industries and the potential for continued investment in the region.
About ReElement Technologies
ReElement Technologies is focused on developing and expanding domestic refining capabilities for rare earth elements and other critical minerals used in advanced technologies, including permanent magnets, semiconductors, and defense applications.
For more information: Read ReElement Technologies' announcement.
