Ribbon cutting for rare earth magnet company Noveon

Noveon Magnetics Inc., a San Marcos based rare earth magnets manufacturer, celebrated its opening with a huge gathering on Friday.

“Noveon is bettering our community, they’re creating a stronger – greener future – by building a secure, domestic rare earth magnet supply right here in Texas,” said Page Michel, President of the San Marcos Area Chamber of Commerce. “In 10 years Noveon will have provided a tax-base boost of more than $900,000 to the City of San Marcos, nearly $620,000 to Hays County, and $1.3 million to the San Marcos school district.”

San Marcos City Councilman Mark Gleason said the council is proud to have Noveon establish its headquarters, “In our backyard.”