More than two and a half years after a ceremonial groundbreaking for what was expected to be a landmark rare-earth metal refining facility, the Amarillo Economic Development Corporation (AEDC) has officially terminated its deal with CVMR (Texas) Inc. The decision came after the company failed to meet its construction deadline.
CVMR, or Chemical Vapor Metal Refining, had planned to build a 500,000-square-foot facility at US Highway 60 and Parsley Road. Local officials, including the Amarillo City Council and Potter County Commissioners’ Court, had approved tax abatements and incentive agreements in 2022 to support the project, which was billed as the first critical mineral refinery in the United States. It was also the largest project ever brought before the Amarillo City Council.
As part of the agreement, the AEDC had committed $20 million over 10 years to support job creation and provided land for the facility. However, despite a ceremonial groundbreaking in June 2022, construction never began. The deadline to start work was set for December 31, 2024, and no extension was granted.
According to AEDC Interim Board Chairman Alex Fairly, CVMR neither applied for the necessary construction permits nor made any visible progress on the site. The company requested a deadline extension in January 2025, but the request was denied.
With the deal now officially terminated, AEDC is in the process of reclaiming the land originally designated for the project. While the refinery’s failure to materialize is a setback for Amarillo’s economic development efforts, officials will now look ahead to new opportunities for the site.
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