York County committee endorses broad uses for economic development fund, asks for strategic plan

The York County Economic Development Committee voted to recommend that the county council consider using the county’s Economic Development (ED) fund for four broad purposes: public‑private partnerships; purchases or options to control property; infrastructure projects; and small‑business initiatives. The committee asked staff to return with a strategic plan and more detailed proposals.

Committee members approved the recommendation by voice vote after Kevin, who presented financial scenarios for the ED fund, reviewed possible borrowing capacity and assumptions tied to current and projected revenue streams. “When you’re going out to borrow money, they’re not gonna base it off what you say your projection would be,” Kevin said, warning lenders typically underwrite to current, proven revenue and require coverage ratios.

The recommendation followed a lengthy discussion about whether the county should use ED fund resources to buy and hold land for future industrial development, invest directly in infrastructure to speed development of near‑term projects, or support smaller businesses and marketing. Several committee members said buying land can preserve options and generate future tax revenue, but cautioned about high infrastructure costs and long timelines before a purchased site yields property tax revenue or jobs. Others urged prioritizing projects that would quickly create taxable activity by improving roads, water or sewer for parcels already near development.

Kevin’s presentation included sample calculations showing an optimistic borrowing example in which the revenue stream could support roughly $10 million to $15 million in principal on the high end; he also reported the ED fund’s current balance as approximately $4.5 million. He noted the numbers were illustrative: “I put in here $14,000,000 and 5%… I was literally just picking numbers to get a number that would work for us,” he said, and recommended council treat the workbook as a planning tool rather than a firm offer from the bond market.

Committee discussion also covered the limits of state involvement. A consultant and other participants explained that historically the state does not fund communities to buy land prospectively; state resources typically come when a confirmed major employer (for example, a large manufacturing prospect) triggers deeper state assistance such as bond financing or site qualification. That advice informed members’ suggestion that the county pursue a mix of acquisition/control tools (ownership, options or purchase agreements) together with efforts to secure state or private leverage rather than relying solely on the ED fund.

Members discussed tools including: taking options or first‑refusal agreements to control land without carrying long‑term ownership costs; structuring public‑private partnerships where the private sector holds title while public investment funds necessary infrastructure; and setting a small‑business support line—possible grants, loans or matching funds—to bolster local entrepreneurs without large one‑time expenditures. The committee asked staff to draft criteria defining eligible projects and to propose an application or review process.

Before adjourning, the committee agreed staff should produce a strategic plan and return with a recommendation to the full county council, and scheduled continued work with municipal partners including the City of Rock Hill. The motion to recommend the ED fund use categories and to return with a strategic plan passed on a voice vote; no roll‑call was recorded in the committee minutes.

The committee also discussed related economic development activity: coordination with the Chamber and Visit York County on a small‑business toolkit launch the week of May 4; outreach to agricultural stakeholders about a potential regional food hub; and business recruitment activity reported by staff (including a noted local project with a roughly $11.5 million investment and 60 jobs, described by staff as using no local incentive).