If you run a business that brings new jobs to Rock Hill, a new incentive could sweeten the deal.
The Rock Hill City Council on Nov. 27 approved a new business license incentive program that could help companies or businesses pay less in fees for up to five years.
Any business, the program details, can apply for a business license abatement for up to five years by meeting certain thresholds, including hiring for a certain number of jobs and paying a certain level of salary.
A company can earn up to a five-year abatement on paying its business license fee if it:
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▪ Offers an average company salary of at least double the York County average (around $42,000) and creates at least 125 new jobs, or
▪ Offers an average company salary at least 1.5 times the York County average and creates at least 150 new jobs.
Business license fees can vary widely, depending on the type of business, where they are located and how many employees work there.
The program will go a long way to attracting engineers, software companies, medical-related businesses and other high-paying employers, said David Lawrence, Knowledge Park Development Manager. Lawrence spoke during a Dec. 5 meeting of the Rock Hill Economic Development Corporation (RHEDC).
While the program is available for any business expansion within the city limits, it was created with Knowledge Park in mind, said Lawrence.
Knowledge Park is a one-square-mile area linking downtown Rock Hill with Winthrop University. Developers and the city staff have spent years attempting to attract “knowledge economy businesses” and an urban walkable lifestyle in the area.