CVMR Coming To Amarillo

Chemical Vapor Metal Refining is bringing its new facilities to Amarillo.

Multiple agreements like tax abatements and location incentives were agreed on by the Potter County Commissioners and the Amarillo City Council to put the deal through.

CVMR is a group of companies in 20 different countries around the world specializing in refining rare earth metals.

The new facility is going to be 500 thousand square feet on 540 acres, located on U S Highway 60, west of Parsley Road.

Company officials say the Amarillo facility will be the first of its kind in the United States.

The Amarillo Economic Development Corporation is providing CVMR with 20 million dollars for job creation over the next ten years, and the EDC along with the City Council will provide a 100 percent tax abatement for ten years on 1 point 5 billion estimated costs for improvements for the site.