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York County approves first reading for Palmetto Rock project and signs on to state grant application
Summary
York County Council approved first reading of Project Palmetto Rock, a proposed $1.5 billion biopharmaceutical site that officials say would create roughly 1,200 direct jobs, and authorized application to a $65 million state site‑preparation grant; council and residents pressed for transparency on incentives and environmental impacts.
York County Council on June 15 approved first reading of Project Palmetto Rock, an economic development proposal the county describes as a roughly $1.5 billion capital investment that would bring about 1,200 direct jobs and additional indirect employment, and authorized staff to apply for a South Carolina economic development set‑aside grant tied to the project.
Mitch Miller, director of economic development, told the council the site is planned at Palmetto Research Park (the former Panther site) and that an independent economic impact analysis estimates more than 2,200 additional jobs supported statewide on top of the company’s direct hires. “This proposal represents approximately $1,500,000,000 in capital investment and over 1,200 jobs,” Miller said, adding that average wages on the manufacturing side could be “a little over $100,000 per year.”
Council members and members of the public pressed staff for clarity on the incentive structure. Miller and county staff explained the county commonly uses fee‑in‑lieu‑of‑tax (FELO) arrangements and special source revenue credits to reduce a prospective company’s assessment ratio — in this case described as reducing a 10.5% commercial assessment down toward about 4% for competitiveness with neighboring counties. Miller said that over the life of the economic development agreement, the projected new tax revenue to all taxing bodies would be about $362,000,000 and that roughly 62% of that amount is projected to go to Rock Hill School District, with about 14% to York County.
Several residents in the public forum said they were worried about secrecy around recruitment code names and the timing of disclosures. Chris Thompson asked, “How much money in tax revenue will York County receive from the company?” and said he had not received an answer to similar questions submitted previously. Josh Edwards, county manager, and Miller responded that code names are common in recruitment and that the company will identify itself publicly at a special second‑reading public hearing scheduled for June 29.
Council also authorized staff to apply for and, if awarded, accept a South Carolina Coordinating Council economic development set‑aside grant (identified on the agenda as C254154) to support site preparation. Members repeatedly clarified that the $65 million referenced at the meeting is a state grant being routed through the county and is not county discretionary cash. “York County is not giving York County taxpayer $65,000,000,” Miller said; “the state is providing a grant and the county would administer it if awarded.”
The action taken on June 15 was a procedural first reading; council reiterated the company will present more details at the special second‑reading public hearing on June 29, when the public can speak and the company will disclose its identity. Final approval will require a third and final reading at a later meeting.
What’s next: the company is expected to appear at the June 29 public hearing to identify itself and answer technical and environmental questions, and council will consider second and third readings before any final incentives are authorized.
