Benson just landed one of the most significant advanced-manufacturing projects in North Carolina this decade. Vulcan Elements’ decision to build a nearly $1 billion rare-earth magnet facility—and create 1,000 new jobs—cements the I-40/I-95 interchange as one of the state’s strongest growth corridors. For a region already experiencing rapid population gains, this announcement accelerates the long-term fundamentals that shape demand for housing and neighborhood retail.
Why Vulcan Chose This Region
Vulcan Elements is at the center of America’s push to onshore the rare-earth magnet supply chain. Their materials power electric vehicles, defense systems, consumer electronics, and advanced industrial applications. This facility will be one of the largest magnet-manufacturing plants outside China.
Benson checks every box:
- access to the Raleigh talent market,
- strong training pipelines through Johnston County and regional community colleges,
- and a strategic position at I-40 and I-95 for logistics and supplier access.
North Carolina’s growing cluster of advanced manufacturers made the state a natural fit. The region is already benefiting from investment across the EV, aerospace, clean-energy, and defense sectors. Vulcan adds meaningful scale to that momentum.
Job and Economic Impact
The state projects that the 1,000 new jobs will carry average wages above $80,000, far exceeding current county averages. The payroll and supplier ecosystem will ripple across Johnston County and into Harnett, Sampson, and southern Wake County.
With strong commuter patterns into Benson from Clayton, Garner, Dunn, Smithfield, and the surrounding communities, the economic uplift will be broadly shared. State analysts estimate billions in total economic impact over the incentive period—a durable anchor for long-term regional growth.
Housing and Retail Demand Growth
High-wage manufacturing has a predictable effect: people follow the jobs.
Benson and the surrounding areas—Four Oaks, Dunn, Selma, Clayton, and the southeastern Wake suburbs—should expect accelerating demand for workforce housing. Renters and homeowners alike tend to cluster near reliable employment centers with short commute times and strong highway access.
Retail will feel it too. Neighborhood shopping centers, grocery-anchored plazas, and service-oriented retail nodes typically see increased traffic as daytime population and household incomes rise. Benson’s existing retail corridors are well-positioned for revitalization and expansion as the workforce builds out.
What This Means for Long-Term Real Estate Investment
A large, stable employer with high-skill jobs strengthens the fundamentals that matter most for real-estate investors: consistent occupancy, predictable rent growth, and a growing customer base for neighborhood retail. Along the I-40/I-95 corridor—one of the fastest-growing sections of the state—the combination of job creation and population inflows reduces downside risk and supports steady long-term performance.
Conclusion
Vulcan’s investment is more than a factory announcement. It’s a structural shift for the Benson region—one that reinforces population growth, supports local businesses, and strengthens the housing and retail ecosystem. As advanced manufacturing continues to anchor southeastern Wake and Johnston County, the fundamentals for long-term real-estate investment only get stronger.
Eddie Coleman, CCIM, is the Principal Investment Officer at NC Capital Group. With over 40 years of experience in Commercial Real Estate in North Carolina and South Carolina, his experience spans multifamily, retail, office, historic adaptation, etc. In addition to advising clients and brokering transactions, he has extensive knowledge of North Carolina through experience in corporate site acquisition, development, capitalization, HUD financing, etc. He holds the prestigious Certified Commercial Investment Member (CCIM) designation.