Rock Hill loses out on $440M plant, 400 new jobs as NY manufacturer abruptly kills deal
A New York company that pledged more than 400 jobs as part of a $443 million investment in Rock Hill isn’t planning to move here after all.
One reason cited for the abrupt move was “market conditions,” according to a York County economic developer.
Mayor John Gettys confirmed to The Herald Wednesday afternoon that the deal with silicon carbide manufacturer Pallidus was dead. The city got a call from the company last week about it, he said.
“They’re not coming,” he said. “That’s all I know.”
Early last year, Pallidus negotiated a deal with York County to relocate in exchange for economic incentives. The company would create jobs with a $443 million investment, creating silicon carbide wafers used in semiconductor manufacturing. Pallidus would put its headquarters at a 300,000-square-foot facility on Overlook Drive in the Waterford area of Rock Hill.
Pallidus did not respond to a request for comment Wednesday afternoon. The company launched in 2015 and works in the transportation, green energy and telecommunications markets.
Losing out on a ‘tremendous’ opportunity
The plan generated a lot of excitement from York County and Rock Hill officials after it was announced last year. This comment, from county Council Chair Chairwoman Christi Cox was typical: “It opens up some tremendous opportunities for the county,” Cox said.
But on Wednesday, those sentiments had changed.
York County Economic Development released a statement from interim director Mitch Miller. “It’s unfortunate that Pallidus has had to make these tough adjustments due to market conditions,” Miller said. “We remain optimistic about the future of our sites and our community.”
York County spokesman Greg Suskin also confirmed the project isn’t happening.
The call last week wasn’t a big surprise, Gettys said, since little had been done with the site since last year’s announcement. The mayor had remained hopeful, though, that Pallidus would still come through with its plans.
Inventory for large commerce sites is somewhat limited in the city, Gettys said, so the loss of Pallidus could be an opportunity for someone else.
“We’re always looking and talking to businesses that want to bring good and high paying jobs in Rock Hill,” he said. “It gives us a little more inventory.”
The city issued a statement on the Pallidus deal falling through, noting transportation and utility infrastructure in the area is primed for business growth. “We’re looking toward future recruitment efforts for the Waterford site and others,” it said.
The Charlotte Business Journal first reported about the Pallidus decision Wednesday.
This story was originally published October 30, 2024 at 3:52 PM.
