SHELBY, N.C. — March 9, 2022 — U.S. Department of Agriculture Rural Development State Director Reginald Speight announced an investment with Mafic USA today.
Mafic USA will use a $3 million USDA Business and Industry Loan to finance the purchase of equipment to expand the capacity of its Shelby facility.
This investment reflects President Joe Biden’s remarks in last week’s State of the Union address when he spoke of the value of American made products.
“There’s something happening in America,” said Biden “The rebirth of the pride that comes from stamping products ‘Made In America.’ The revitalization of American manufacturing.”
Speight was joined by several representatives from Mafic USA, along with federal and local officials.
Mafic USA is a basalt (mafic volcanic rock) fiber manufacturing plant.
“Mafic USA is about to become to be the largest volume producer of basalt fiber once the plant reaches full capacity,” Speight said. “This underscores the President’s desire for the United States to move away from foreign supply chains and make quality products here at home.”
Posted March 10, 2022