By admin 
YORK, S.C. (WJZY) — York County leaders are attempting to lure in a pharmaceutical company that would bring in more than a thousand jobs paying much higher than the local average.
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On Monday, York Council Economic Development presented the financial details of Project Palmetto Rock, which would be built on the site of the former Panthers planning headquarters in Rock Hill. It’s estimated to bring in $1.5 billion over the life of the deal.
The name of the “global biopharmaceutical” company remains a secret, but county leaders say it manufactures “life-saving products.”
“This is not going to be a facility that houses diseases, viruses,” said Economic Development Director Mitch Miller. “It’s pharmaceutical-related products. Everyone from defense side, to public side. It’s already zoning for manufacturing; there’s been a vision for life science on this site.”
Miller explained to council members that commercial properties in York County come with a 10.5 percent tax rate, which is more than double that of Charlotte. So, as an incentive, they’re looking to offer the company a four percent rate as part of a fee-in-lieu deal.
The company is requesting a $65 million Economic Development Set-Aside Grant for eligible project-related improvements. This money comes from the state, and no local match is required.
Also at the site, located off Interstate 77 and Palmetto Parkway, Novant Health plans to build a medical campus with a hospital. Last spring, the Rock Hill City Council voted to rezone part of the 245-acre property to attract this type of industrial project.
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Out of the 1,200 jobs, Miller said that the manufacturing positions would pay just above $100,000, and office jobs around $140,000.
His office estimates that more than $362 million in York County tax revenue would be generated from the deal. Of that, roughly 62 percent would be for the school district, 24 percent for Rock Hill, and 14 percent for the county.
Since there was so much interest in finding out the company, the bidder will be revealed at a public hearing scheduled for June 29. This step usually comes later in the process, at the third reading.
Commissioner Bump Roddey shared his excitement for the project and wanted citizens to share any feedback sooner rather than later.
“Looking forward to everything being out in the open,” Roddey said. “We heard from citizens to get the name out in the open. Hopefully, those who have concerns come out now instead of two years down the road when they’re building, getting things worked out. I’m looking forward to supporting it.”
In 2020, the Panthers began construction there on what was supposed to be their training facility, but three years later terminated the deal with Rock Hill with steel beams already in place.
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