YORK COUNTY, S.C. — The York County Council unanimously approved tax incentives Monday night for a $1.5 billion project that would bring Octapharma, a Switzerland-based company, to the area.
The company plans to build its first U.S. manufacturing plant in York County.
The project is expected to create 1,200 high-paying jobs and move Octapharma’s U.S. corporate headquarters from Charlotte to York County.
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The approval moves Project Palmetto closer to reality. Octapharma uses blood plasma to make medicine.
The proposed manufacturing plant would be constructed on part of the site of the former Panthers practice facility.
A representative for Octapharma said it would take 10 years for construction of the facility to be complete.
York Technical College President Stacey Moore views the deal as a positive development for the community. She said it would provide a reason for her students to remain in the county.
“Our graduates stay in these communities, so it’s an incredible opportunity,” Moore said.
However, some community members have expressed skepticism regarding the project.
Vera Hammond, who lives in the nearby Riverwalk community, voiced concerns stemming from what happened with the Panthers project.
She also stated her disapproval of the tax breaks involved. “Why should the homeowners have to pay and not the big corporations?” Hammond said.
The York County Council added a new step to the process by approving an amendment to the tax incentives on Monday night.
The original plan called for York County, the city of Rock Hill and local school districts to give up 50% of their tax revenue from the project.
The amendment altered these figures to ensure Rock Hill Schools would retain more funding.
Under the new terms, Rock Hill Schools would forgo 31.9% of tax revenue from the project, while the city of Rock Hill would surrender 100% of its potential revenue to compensate. York County’s contribution would remain at 50%.
This amendment means the city of Rock Hill will now need its own vote to approve the incentives, a step not previously required.
The York County Council will also need to approve the plan one additional time before it is finalized.