Sartell City Council Enters Purchase Agreement with Niron Magnetics for Major Development

October 01, 2024 at 10:36 AM EDT

The Sartell City Council has signed a Purchase Agreement with Niron Magnetics for 79 acres of public land on the east side of 4th Avenue South. This property, part of the 167-acre Champion Plat acquired by the City of Sartell last year during the purchase of the Mill District, marks a significant development for the community.

The Purchase Agreement kicks off a 180-day due diligence period between the City of Sartell and Niron Magnetics. During this period, a subsidy agreement will be negotiated, and specific criteria must be met for the property purchase to close.

Niron Magnetics is producing the world’s first high-performance, rare earth-free permanent magnets. The Sartell site will serve as the foundation for Niron’s growth as the company scales its operations to meet the increasing demand for these magnets. This new manufacturing plant is initially slated to bring 175 jobs to the area, with phase one beginning with the construction of a 150,000-square-foot facility and future phases planned. After evaluating over 75 potential sites, Sartell was selected as the ideal choice for the company’s first full-scale manufacturing plant, in part due to the community’s focus on creating an attractive environment for businesses and residents.

Permanent magnets are critical components of green technologies such as electric vehicle motors, wind turbines, and energy-efficient consumer electronics. The vast majority of these magnets are produced abroad through volatile supply chains. With this site, Niron and the City of Sartell will help bolster the domestic supply of this key technology while boosting local manufacturing capacity and playing an important role in the transition to a cleaner energy future.

“We’re excited to partner with the City of Sartell. The community has built a welcoming environment for both our business and our future employees, making it the perfect location for Niron to put down our roots and expand into our next phase,” said Jonathan Rowntree, CEO of Niron Magnetics. “Sartell’s investments in creating a livable, sustainable community align perfectly with our values and vision for supporting GreenTech businesses in Minnesota. We look forward to working with our partners at the City of Sartell to usher in the next phase of American clean energy and manufacturing growth.”

To ensure opportunity for community involvement before closing on the property, the City of Sartell will host three listening sessions and one public hearing, providing opportunities for residents to engage with the City Council and staff, ask questions, and share feedback. A Q&A section will also be available on the city's website for added transparency and convenience.

The first listening session will take place on October 8th at the Sartell Chamber’s State of the City event, which is open to the public. The program will be held at the Waters Church and begins at 12:00 PM, concluding by 1:00 PM. Non-Chamber members can purchase lunch for $5. Those planning to attend can email info@sartellchamber.com to register.

About Niron Magnetics:

Niron Magnetics is the world leader in developing rare earth-free permanent magnets, representing a key technological advancement in green energy solutions, sustainable manufacturing, and national defense. Their innovative magnets offer an environmentally friendly alternative to traditional rare earth-based magnets, supporting Sartell's commitment to sustainability and long-term economic growth.

For more information, head to www.nironmagnetics.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20241001583416/en/

Contacts

If you have any questions about the purchase agreement, please reach out to Sartell City Administrator Anna Gruber: anna.gruber@sartellmn.com.

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Sartell City Council Enters Purchase Agreement with Niron Magnetics for Major Development

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