News - Local/State

Tuesday, Oct. 14, 2008

Rock Hill leaders back developers on Celanese property

Developers planning to bring new life to the old Celanese property in east Rock Hill hope to get state tax credits available to help spur the redevelopment of former textile mill sites.

City leaders voted Monday to support the company’s efforts and to rezone the 1,000 acres to allow for residential, retail and industrial uses on differents parts of the property off Cherry Road near Interstate 77.

“It’s an important step in trying to make these very difficult projects economically feasible,” said Stephen Turner, the city’s economic development director.

Rock Hill officials helped persuade state legislators to create the tax credit in 2004. Since then, it has been used to help pay for renovations at The Cotton Factory and the Highland Park Mill.

Supporters of the S.C. Textiles Community Revitalization Act said it would encourage private investment in abandoned mills.

Under the law, a developer who revitalizes a vacant mill can acquire property tax credits or personal or corporate income tax credits — potentially saving thousands of dollars.

In the case of the Celanese site, it was unclear how much the credits could be worth because developers are still negotiating with the S.C. Department of Commerce.

Once among the largest employers in York County, the Celanese Celriver Plant employed about 1,600 workers in 1996. The plant closed in 2004. City planners say the slow pace of the redevelopment doesn’t come as a surprise.

“Even in the most optimistic terms, people were certainly looking at this as being a long-term project,” said development services director Bill Meyer.