MARION, IN- ReElement Technologies has announced a major step forward in its Marion, Indiana, expansion after securing a $46 million federal New Markets Tax Credit allocation to support its critical minerals refining operations.

The expansion will increase domestic production capacity for rare earth elements and other critical minerals used in semiconductors, permanent magnets, and national defense systems.

HERE’S WHAT THIS MEANS FOR MARION:

189 jobs projected during the first phase of expansion.

Approximately 90% of the jobs are expected to be accessible to individuals with a high school diploma.

$2.1 million committed to workforce training, including opportunities for apprenticeships, technical certifications, and two-year degree programs.

New opportunities for local residents to enter skilled manufacturing careers with competitive wages.

The $46 million tax credit allocation will support financing for Phase I equipment and working capital. It is not a $46 million direct cash grant.