ROCK HILL, S.C. — York County Council recently approved an amendment to a significant tax incentive agreement for Octapharma’s planned U.S. headquarters in Rock Hill.
The decision aims to attract a billion-dollar investment and 1,500 jobs while reducing the tax break’s financial impact on local schools.
The county’s initiative seeks to bring high-paying jobs to the former Panthers practice site by offering Switzerland-based company Octapharma a lower tax bill.
School districts are typically the largest recipients of property taxes, and the previous setup had the city, county and school districts paying an equal percentage of tax breaks.
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York County Councilman William Bump Roddey proposed an amendment at a meeting Monday to adjust the distribution of the tax break burden. Roddey suggested reducing the schools’ portion of the tax break from 50% to 31.9%.
“I make an amendment: we reduce schools’ portion—from 50 to 31.9%. “50% will go to York, and 50% to 100% will go to the city of Rock Hill,” Roddey said. The amendment passed in a five-to-two vote.
Rock Hill School Board Member Montrio Belton acknowledged the council’s consideration of the agreement’s long-term effects.
“I appreciate York County Council considering the financial impact this FILOT agreement will have on Rock Hill Schools for years to come,” Belton said in a statement today.
The adjustment could provide Rock Hill Schools with up to $3 million annually in additional operating revenue.
Melvin Burkett, a York County taxpayer, expressed support for efforts that benefit local education.
“I would support that, especially if it’s helping our school districts,” Burkett said. Councilman Tom Audette also emphasized the current financial needs of schools.
“But I think from a pure need standpoint, from funding from within the school, they do have a need from within the school for additional funding now,” Audette said.
Octapharma’s move will relocate 300 jobs from Charlotte to Rock Hill, bringing the total number of positions at its new U.S. headquarters to 1,500.
Additionally, a Novant Health medical campus is planned for another part of the site, representing a $300 million investment and creating 200 jobs.
Councilman Audette indicated that there is still time for further discussion regarding the tax incentive.