ROCK HILL, S.C. — A global biopharmaceutical company is seeking to establish a corporate headquarters and manufacturing facility in Rock Hill that would represent a $1.49 billion investment and create 1,252 direct jobs, according to documents prepared by York County Economic Development for tonight’s York County Council meeting.
The company has not been publicly identified. It is pursuing economic development incentives under the code name Project Palmetto Rock and is planning to locate at Palmetto Research Park in Rock Hill, a site tied to the former Carolina Panthers headquarters and training complex that was abandoned before completion. Construction is projected to begin in late 2026.
Two Facilities, Two Timelines
The project encompasses two distinct operations. The corporate headquarters and lab facility, classified under blood and organ banks, carries a capital investment of $190 million and would employ 564 workers at an average annual wage of $141,502. That component is targeted for completion in 2031.
The manufacturing facility, focused on biological product manufacturing, represents a $1.29 billion capital investment and would employ 688 workers at an average annual wage of $102,752. That facility is targeted for completion in 2035.
Combined, the 1,252 direct jobs would pay wages averaging roughly $60,975 more per year than the current average annual salary in York County, according to the county staff report prepared by Economic Development Director Mitch Miller.
Economic Ripple Effect
An economic impact analysis prepared by York County Economic Development using JobsEQ data from Chmura Economics and Analytics projects that the full buildout of both operations would generate 2,261 total jobs when indirect and induced employment effects are included. The manufacturing facility alone is projected to support 1,562 total jobs, including 316 indirect positions and 557 induced positions. The corporate headquarters component would support an additional 699 total jobs.
Combined economic output from both operations is projected to reach $1.96 billion, with $1.65 billion attributed to manufacturing and $306 million to the corporate headquarters and lab. Total household income added across both facilities is projected at $237 million.
Incentives on the Agenda
York County Council will consider authorizing staff to apply for a $65 million grant from the South Carolina Coordinating Council for Economic Development at its meeting tonight at 6 p.m.
The council will also take up a first reading by title only of an ordinance that would authorize a fee-in-lieu of ad valorem tax and incentive agreement between York County and Project Palmetto Rock. Under the proposed agreement, the company and its affiliated entities would pay fees in lieu of property taxes, receive certain special source revenue credits, and be placed within a multi-county industrial and business park.
County management and Miller are recommending the council approve the first reading and move forward with the grant application.
What Comes Next
Because tonight’s vote is a first reading by title only, a second reading and final vote would be required before any incentive agreement takes effect. The grant application authorization, if approved, would allow county staff to formally pursue state funding.
The York County Council meeting begins at 6 p.m. tonight at the York County Government Center in York.
Sources: York County Council agenda staff report, June 15, 2026; Project Palmetto Rock Economic Impact Summary, York County Economic Development, prepared using JobsEQ by Chmura Economics and Analytics
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