Rock Hill’s Economic Setback: Pallidus Withdraws, 400 Jobs Lost

Rock Hill Loses Promised Jobs as Pallidus Announce Withdrawal

Rock Hill, SC – The New York company Pallidus, which had promised to bring over 400 jobs to the area as part of a significant $443 million investment, has decided not to move to Rock Hill after all. The announcement comes as a setback for local economic development efforts and was confirmed by Mayor John Gettys on Wednesday.

What Happened?

In a surprise development, Pallidus informed city officials last week that they would not be proceeding with plans to create a new manufacturing facility in Rock Hill. Citing market conditions as a primary reason for the abrupt change, the announcement has left city leaders and local residents disappointed.

Where was the Facility Planned?

Pallidus had intended to establish its headquarters in a 300,000-square-foot facility located on Overlook Drive in the Waterford area. The company specializes in manufacturing silicon carbide wafers used in the semiconductor industry, a sector with significant growth potential.

When Did the Deal Fall Through?

The communication regarding Pallidus’s decision came last week, but it was made public on Wednesday afternoon. Mayor Gettys indicated that the absence of progress on the site since last year’s announcement contributed to the disappointing news.

Why Did Pallidus Decide Not to Move?

According to interim director of York County Economic Development, Mitch Miller, the shift in Pallidus’s plans was largely influenced by the challenging market conditions they are currently facing. This unforeseen circumstance prompted the company to withdraw from their agreement with the city.

Community and Economic Impact

The news was particularly disheartening as county officials had expressed excitement and optimism regarding the potential job creation and economic boost that Pallidus’s presence would bring to Rock Hill. County Council Chairwoman Christi Cox had previously stated that the deal would “open up tremendous opportunities for the county.”

In a statement, York County spokesman Greg Suskin confirmed the project is not happening and reflected on the missed opportunity for local job seekers. Despite the setback, Miller expressed hope for the future, stating, “We remain optimistic about the future of our sites and our community.”

Looking Forward

Though the loss of Pallidus is a blow, Mayor Gettys highlighted that the city’s inventory of available land for large commercial projects is limited. He noted that this may create a new opportunity for alternative businesses looking to establish themselves in Rock Hill. “We’re always looking and talking to businesses that want to bring good and high paying jobs in Rock Hill,” he emphasized.

The city plans to focus on future recruitment efforts for the Waterford site and other locations, leveraging existing infrastructure to attract new businesses resume development. Officials expressed a commitment to ensuring growth in economic opportunities for the residents of Rock Hill.

Conclusion

As Rock Hill navigates this unexpected turn of events, city leaders remain focused on overcoming the challenges presented by the market. The hope is that other companies will take advantage of the available spaces, ultimately contributing to job creation and economic growth in the community.