The Daily Dig
Niron Magnetics raised the ceremonial steel column at its 287,000 square foot manufacturing plant in Sartell, Minnesota, on September 9, 2026. The company paired the milestone with a new investment from Honda Motor Co., Ltd.
Steel Column, Big Statement
CEO Jonathan Rowntree wasn't up there alone. Sartell Mayor Ryan Fitzthum joined him, along with Mark Ford of Ryan Companies and John Shaw of Wood.
The plant is targeting operations in 2027. At full capacity, it's expected to produce up to 1,500 tons of permanent magnets annually and support 175 full-time jobs.
Rowntree tied the milestone to a bigger goal: a domestic magnet supply chain that doesn't depend on rare earth materials. "The Sartell plant is a critical step toward giving U.S. manufacturers a permanent magnet supply chain that doesn't depend on rare earth materials," he said.
Honda Hops On
Niron also announced an investment from Honda, made through Honda Xcelerator Ventures, the automaker's open innovation arm. The amount wasn't disclosed. The funding is meant to support commercialization of Niron's magnet technology and help scale the company's manufacturing operations.
It's not the first big check this project has cashed. In August, Niron secured a conditional commitment for a direct loan of up to $150 million from the Department of War's Office of Strategic Capital, along with a $150 million loan from the Shakopee Mdewakanton Sioux Community, to advance the Sartell site.
Snapshot:
Project Name: Niron Magnetics Sartell Manufacturing Facility
Location: Sartell, Minnesota
Owner/Developer: Niron Magnetics, Inc.
Attendees at Steel Raising: Ryan Companies (Mark Ford), Wood (John Shaw), Sartell Mayor Ryan Fitzthum
Sector: Advanced manufacturing, permanent magnets
Scope: 287,000 sq. ft. manufacturing plant
Milestone Reached: Steel raising, September 9, 2026
Projected Operational Date: 2027
Full Production Capacity: 1,500 tons annually
Projected Employment: 175 full-time jobs
Recent Investment: Honda Motor Co., Ltd., via Honda Xcelerator Ventures (amount undisclosed)
August 2026 Financing: Conditional commitment for a direct loan of up to $150 million from the Department of War's Office of Strategic Capital; $150 million loan from the Shakopee Mdewakanton Sioux Community
TheJobWalk Thoughts
This financing stack is worth watching. A conditional federal loan commitment paired with a completed $150 million loan from a tribal partner puts real capital behind this build before the federal piece is even finalized.
The 2027 target gives MEP and specialty trades a real planning window. Process equipment installation on advanced manufacturing jobs tends to land late in the schedule, so crews who lock in early usually get better sequencing than those waiting on the RFP.
Honda's investment mainly signals confidence in the technology itself. Niron says Honda has high expectations for the material, which matters, though nothing here confirms a future supply deal.
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