Pallidus, a global semiconductor manufacturer, just announced plans to move its entire corporate headquarters to York County.
They will be investing over $443 million into a 300,000 sqft facility and create at least 405 new jobs for our region.
The new facility will be located at 1786 Overview Drive in Rock Hill.
“We are thrilled to be partnering with the state of South Carolina, York County, and the city of Rock Hill in supporting our new high-volume semiconductor silicon carbide wafer manufacturing plant and corporate headquarters,” said Pallidus VP Jerry Knowles in a press release. “The decision to select Rock Hill for our next manufacturing facility was the result of extensive research to locate to a community that aligned with our innovative and collaborative spirit, offered an exceptional quality of life for our employees and is easily supported from our research and development facility in New York.”
Semiconductor manufacturer Pallidus is relocating its corporate HQ & manufacturing operations to York Co. This $443 million investment is set to bring 405 jobs to the Charlotte Region.
Details: https://t.co/9cmvk5fZuK#SelectCLT #econdev @SCcommerce @YorkCountySC @BakerTillyUS pic.twitter.com/y9dkpF5FEA— Charlotte Regional Business Alliance (@clt_alliance) February 7, 2023
The SC Department of Commerce approved performance-based job development credits for the move. Pallidus will be required to meet an investment requirement and job creation before they can collect the tax credits. The amount of tax credits will be based in part on the amount of payroll taxes paid by the company, and it has also received property tax breaks from York County. Unfortunately, the state representative refused to disclose the amount of tax credits the company may receive.
Pallidus aims to help ease the shortage of semiconductors, used in everything from solar panels to computer chips, with their new facility. They expect to begin local operations in the third quarter of 2023.
