Benson Authorizes Incentive Agreement with Vulcan Elements

The Town of Benson Board of Commissioners authorized execution of an Economic Development Incentive Agreement with Vulcan Elements for Project Polaris. In exchange for incentives, the company will invest at least $826.29 million and create no fewer than 900 new permanent full-time jobs at a rare earth magnet manufacturing facility in Benson.

Scope & details

The full contract record, as filed.

Contract type

OTHER

Renewal

The Agreement is designated as a continuing contract under North Carolina General Statutes § 153A-13; detailed renewal or termination provisions are contained in Exhibit A, which is not included in the resolution text.

Document type

Resolution

Source document

Town of Benson Resolution 276-2025 Economic Development Incentives

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Town of Benson Board of Commissioners Special Meeting Agenda April 2026

APPROVED

Town of Benson, North CarolinaApr 29, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by Town of Benson?

Vulcan Elements was awarded this government contract by Town of Benson, as recorded on November 24, 2025.

What type of contract is this?

This is a government contract, documented as a resolution record.

Where was this contract approved?

This contract appears in Town of Benson Resolution 276-2025 Economic Development Incentives (Resolution), dated November 24, 2025 from Town of Benson. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Vulcan Elements hold?

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