CVMR, City of Amarillo ink deal for $1.5 billion refinery

AMARILLO – CVMR will build a 500,000-sf rare-earth mineral refinery on 540 acres off US 60. 

The city and Potter County agreed to numerous tax abatements and location incentive agreements prior to making a deal with CVMR. 

The​​ deal will provide CVMR with $20 million for the creation of over 1,000 jobs over the next ten years and a 100 percent tax abatement for ten years. 

This marks the largest project ever in Amarillo, costing $1.5 billion.