Kentucky's position as a leader in the electric vehicle (EV) manufacturing industry continues to grow with the recent announcement of a new magnet manufacturing operation in Louisville. Quadrant, which has operated an engineering, machine and assembly hub in Louisville since 2001, plans to build a $95 million rare-earth magnet manufacturing facility at its Louisville campus. This will be Quadrant's first mass production facility in the United States and will create 200 full-time jobs.
"As electric vehicle production continues to ramp up across the automotive sector, we will continue to see growth of EV-related companies in the commonwealth," said Gov. Andy Beshear. "This investment and job creation will position Quadrant to capitalize on a burgeoning market, and I am thrilled to welcome the company's growth in Kentucky."
According to the governor's office, Quadrant will construct a 171,000-square-foot facility at its existing Plantside Drive campus. The new location builds on the company's goal to build a world-class magnetics, manufacturing and research campus and positions the company and community as leaders in attracting a critical and innovative industry back to the U.S.
Rare-earth magnets are a type of permanent magnet made from alloys of rare-earth elements produced by Quadrant for use in electric vehicle motors and other automotive applications, consumer electronics, and within the medical, alternative energy and appliance industries, among others.
Construction of this state-of-the-art manufacturing campus, known as Project NeoGrass by Quadrant leaders, positions the industry for further growth in the U.S.
"We believe Project NeoGrass is the blueprint that the magnetics industry and our customers need," said Michael Brand, president of Quadrant. "It is a revitalization of rare-earth manufacturing and research and development in the U.S."
LG&E and KU President John R. Crockett III lauded Quadrant's announcement and the positive impact it will have on the local economy.
"LG&E and KU are proud to be the energy provider of Quadrant's facilities in Jeffersontown," he said. "Our partnerships with our customers, Louisville Forward and the Cabinet for Economic Development are important to the growth and well-being of Greater Louisville. We join Gov. Beshear and Mayor Fischer in celebrating Quadrant's expansion and enhanced commitment in our community."
Visit Quadrant to learn more about the company's products and services.
