MagPro, LLC (2025, 2nd tranche)

Camden,
Tennessee
(2025)

MagPro, LLC (2025, 2nd tranche)

Manufacturing and Industrial

Investment

NMTC Amount: $17,500,000
Total Project Cost: $32,380,229

IMPACT

200 FTE jobs
150 jobs created, 50 retained

CDEs

Rural Development Partners

Investor

US Bank

Project Description

Through a multi-phase plan, NMTCs will help MagPro increase their production of primary magnesium in the United States reducing U.S. dependency on imports. Phase I (closed December 2024) $12.5 million in NMTCs helped purchase inventory and raw materials, increasing the production of magnesium by nearly 100% and creating over 50 new jobs. Phase 2 (RDP phase) will utilize $17.5 million in NMTCs, enabling MagPro to self-construct 5-7 vacuum furnaces to increase the volume of raw materials and inventory significantly increasing operations, and driving the need for an additional 150 new jobs. Within the next five years, MagPro will construct a new 20,000 SF structure located adjacent to the existing 100,000 SF facility to accommodate anticipated growth.

MAP

Address: 245 Foundry Lane, Camden, Tennessee 38320

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