Rock Hill SC business real estate by Allen Tate Realtors

Economy in Rock Hill, South Carolina

Why York County?
Information provided by the City of Rock Hill

It's easy to see that York County capitalizes on its geography offering the advantages of a South Carolina location and business climate with adjacent access to the largest metropolitan area in the two Carolinas – Charlotte USA. York County is an integral part of the Charlotte region, located a few miles south of the City of Charlotte across the border of North and South Carolina. The region offers a unique balance of business strength, accessibility and quality of life. It's what attracts so many companies and, most importantly, keeps them going strong.

The diversity and strength of the business community continually supports growth even during challenging economic times. In the past several years, York County has averaged $200 million in industry and business development and 1,700 new jobs annually. Since 2000, reported investment totaled $1 billion and 7,900 new jobs. Home to the 2nd largest financial center in the nation, the region also boasts a strong distribution and manufacturing presence.

High Volume of Out-Commuters In York County
Percent of Workforce (Ages 16+) Commuting out of York County

Labor Availability
Labor Force

York County offers a productive workforce with increasingly diversified skills. Approximately 40% of the county's workforce commutes many miles to jobs throughout the region. New businesses locating in York County find good availability in the labor supply, especially with people who desire a job closer to home. In a recent survey of companies in the labor shed area, our workforce received high marks for productivity and most companies judged absenteeism and turnover to be low.

South Carolina is a "right to work" state and has a low unionization rate of 2.3% reported in 2005. The state continues to hold the slot for lowest or second lowest union rate in the United States during the last decade. South Carolina also has one of the lowest work stoppage rates in the country over the last 30 years. York County has not held a union election in the last five years.

Annual Average 2005 Labor Force

Total Labor Force Unemployed Unemployment Rate
York County 97,780 6,660 6.8%
Charlotte Region 1,216,063 61,832 5.1%

Registered Applicants

In the past year, nearly 8,000 people registered with the South Carolina Employment Security Commission in York County as searching for employment opportunities. Of these, approximately
2,000 had skills in manufacturing occupations, 2,000 in administrative and sales occupations, 1,600 in distribution occupations and over 1,000 in professional and managerial occupations.

Underemployment

Studies have shown that firms that expand or grow in York County draw from those who are already employed. A recent survey found that many people expressed an interest in changing jobs, creating a pool of desirable candidates for new employment opportunities. These underemployed workers were surveyed in York, Chester, Lancaster and a portion of southern Mecklenburg counties constituting the Catawba Labor Shed area. This pool of workers possesses the skills, experience and education that seem to qualify them for job upgrades. In addition to underemployed workers, the study found that 4,300 people, approximately 76% female, are not actively seeking work would accept a good job if offered.

Number of underemployed workers 24,900
Number of unemployed persons who are seeking work 15,300
Number of persons who are not working,but are contemplating
re-entering the workforce 4,300
Total number of workers available for employers 44,500



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	Rock Hill Real Estate Rock Hill area info Buying in Rock Hill Selling in Rock Hill Rock Hill, SC Offices Rock Hill Attractions Statistics & Facts Relocation Information History of Rock Hill Rock Hill Schools Arts & Entertainment Health Care York County Info Rock Hill Business Rock Hill Mortgage Rock Hill Insurance Other regions to consider Rock Hill Home Page Allen Tate.com News Headlines Allen Tate Realtors®, Expands into Triangle... more	Economy in Rock Hill, South Carolina Why York County? Information provided by the City of Rock Hill It's easy to see that York County capitalizes on its geography offering the advantages of a South Carolina location and business climate with adjacent access to the largest metropolitan area in the two Carolinas – Charlotte USA. York County is an integral part of the Charlotte region, located a few miles south of the City of Charlotte across the border of North and South Carolina. The region offers a unique balance of business strength, accessibility and quality of life. It's what attracts so many companies and, most importantly, keeps them going strong. The diversity and strength of the business community continually supports growth even during challenging economic times. In the past several years, York County has averaged $200 million in industry and business development and 1,700 new jobs annually. Since 2000, reported investment totaled $1 billion and 7,900 new jobs. Home to the 2nd largest financial center in the nation, the region also boasts a strong distribution and manufacturing presence.
		When selecting a location for business operation, accessibility is key. No wonder so many national and international companies have turned to the Charlotte region as a place to call home, including nine Fortune 500 headquarters. York County is midway between New York and Miami providing access to over 50% of the nation’s population and industry base. Serving 28 million passengers a year, the Charlotte/Douglas International Airport is the 6th largest major airline hub in the nation offering over 500 flights daily including non-stop flights to London and Frankfurt. Interstate 77 runs through the eastern portion of York County and Interstate 85 runs near the northwestern part of the county all joined together by an excellent network of US and state highways. Positioned at the heart of the largest, most consolidated rail system in the Carolinas, York County puts coastal shipping centers within easy reach of the region’s inland port. As part of the Charlotte Region , York County offers an unparalleled quality of life including excellent schools, national cultural events, and first class entertainment facilities blending the advantages of a major metropolitan city and a small town atmosphere. Outdoor activities include boating, hiking and playing on some of the nation’s most outstanding golf courses. With teams in the NFL, IHL and triple-A baseball as well as the reputation as a major NASCAR headquarters, the region continues to be recognized as a national sports market. A short drive to the Blue Ridge Mountains or the famed Carolina beaches, York County also offers easy access to a variety of destinations. So, why York County? The best of all worlds is offered here. Quality of life, excellent business climate, and accessibility are just the beginning. South Carolina incentives make the move to York County a smart one. Our reasonable cost of operation and productive labor force make staying in business here even smarter. Location & Accessibility Location Situated in the heart of the Carolina Piedmont, just across the South Carolina line from dynamic metro Charlotte, York County brings together the grace and charm of life in a small community with the opportunities and advantages of the big city. There are nine municipalities within York County: Clover, Fort Mill, Hickory Grove, McConnells, Rock Hill, Sharon, Smyrna, Tega Cay and York. The City of Rock Hill is the commercial and financial center, while the City of York is the county seat. York County is 685 square miles of gently rolling landscape located in the Piedmont area of Carolina 75 miles north of Columbia and just Southwest of Charlotte, NC. Elevations in York County range from 500 feet to about 1,200 feet above sea level. The majority of soil conditions provide excellent building and development foundations. Accessibility York County has an advantageous location - 57% of the U.S. population and 62% of U.S. industry are within 650 miles. Population Comparison in a 650-Mile Radius City % of U.S. Population York County/ Charlotte Region 57% Atlanta 44% New York 40% • More than 130 million people can be reached in only 2 hours by air and one day by car or truck from the Charlotte Region • Major transportation & distribution center Flight/Driving Times City Miles Kilometers Driving Time Flight Time Atlanta, GA 243 391 3:57 1:15 Chicago, IL 765 1231 12:13 2:00 Orlando, FL 524 843 8:13 1:30 New York, NY 646 1039 0:27 1:50 Memphis, TN 620 998 9:22 1:40 Washington, DC 400 644 6:24 1:15 Charlotte Douglas International Airport The Charlotte/Douglas International Airport is ranked among the nation's top airports and serves commercial, cargo, corporate, private, military and trucking operations. The Airport is midway between I-85 and I-77, a convenient location with quick entrances and exits easily accessible from York County. US Airways operates its largest hub at Charlotte/Douglas offering a wide variety of destinations. With Charlotte/Douglas International Airport serving Charlotte, you can reach most business destinations with direct or one-stop flights. • Over 500 flights daily • 123 cities served by non-stop & single plane service • Over 28 million passengers in 2005 • Over 1.8 million international passengers in 2005 • 2005 Rankings: 12th nationwide in total operations 18th in total passengers International Service (Non-stop flight •Antigua •Aruba •Barbados •Belize •Bermua •Cancun, Mexico •Cozumel, Mexico •Frankfurt, Germany •Freeport, Grand Bahamas •Grand Cayman Islands •Guatemala City, Guatemala • Liberia, Costa Rica • London, England • Mexico City, Mexico •Montego Bay, Jamaica •Munich, Germany •Nassau, Bahamas •Providenciales, Turks & Caicos •Punta Cana, Dominican Republic •San Jose, Costa Rica •San Juan, Puerto Rico •St. Croix, U.S. Virgin Islands •St. Maarten, Netherland Antilles •St. Kitts •St. Thomas, U.S. Virgin Islands •Toronto, Canada Airlines Mainline Carriers: •American Airlines •Air Canada •ATA •Continental Airlines •Delta Air Lines •Jet Blue Airways •Lufthansa Airlines •Northwest Airlines •United Airlines •US Airways Regional Carriers: •American Eagle •American Connection •Continental Express •Delta Connection •Northwest Jetlink •United Express •US Airways Express York County Demographics York County Population Population, 2005 estimate 186,868 Population percent change, 2004-2005 2.4% Persons per square mile, 2005 268.7 Population, 2000 164,614 Population, percent change, 1990 to 2000 29.9% Age Distribution (2005 estimate) Persons 15 to 19 years old 7.3% Persons 20 to 64 years old 61.2% Persons 65 years old and over 11.1% Household Income (2005 estimate) Median household income $48,689 Median family income $62,313 Per capita income $23,634 Ethnicity (2005 estimate) White persons 77.2% Black or African American persons 19.4% American Indian/Alaska Native persons 1% Asian persons 0.9% Persons of Hispanic or Latino origin 2.7% Source: DemographicsNow using U.S. Census Regional Urban Growth Estimated for 2015 Regional Population County 2005 (estimate) 2015 (projected) York 186,868 198,200 Alexander 35,604 42,748 Anson 25,197 27,561 Cabarrus 150,598 185,714 Catawba 150,851 177,372 Chester 33,748 37,700 Chesterfield 43,506 43,500 Cleveland 99,482 111,687 Gaston 195,476 210,707 Iredell 140,061 169,988 Lancaster 62,572 62,300 Lincoln 69,513 84,282 Mecklenburg(Charlotte) 787,076 998,022 Rowan 136,335 161,924 Stanly 59,280 67,337 Union 159,705 189,355 Charlotte Region 2,335,872 2,768,397 Source: US Census Bureau, South Carolina Office of Research & Statistics, North Carolina State Demographer, DemographicsNow Mecklenburg County Rowan County Lincoln County Gaston County 1980 1970 2015 York County Commuting Patterns • A total of 40% of York County’s workforce over the age of 16 commute to a work place outside of the county up from 38% in 1990. • Nearly 24,000 or 30% travel to Charlotte/Mecklenburg County alone compared to 25% in 1990. • The northern portion of York County tends to produce the most out-commuters as Census tracts bordering North Carolina listed 50% or more of the workforce commuting outside the county. High Volume of Out-Commuters In York County Percent of Workforce (Ages 16+) Commuting out of York County Labor Availability Labor Force York County offers a productive workforce with increasingly diversified skills. Approximately 40% of the county's workforce commutes many miles to jobs throughout the region. New businesses locating in York County find good availability in the labor supply, especially with people who desire a job closer to home. In a recent survey of companies in the labor shed area, our workforce received high marks for productivity and most companies judged absenteeism and turnover to be low. South Carolina is a "right to work" state and has a low unionization rate of 2.3% reported in 2005. The state continues to hold the slot for lowest or second lowest union rate in the United States during the last decade. South Carolina also has one of the lowest work stoppage rates in the country over the last 30 years. York County has not held a union election in the last five years. Annual Average 2005 Labor Force Total Labor Force Unemployed Unemployment Rate York County 97,780 6,660 6.8% Charlotte Region 1,216,063 61,832 5.1% Registered Applicants In the past year, nearly 8,000 people registered with the South Carolina Employment Security Commission in York County as searching for employment opportunities. Of these, approximately 2,000 had skills in manufacturing occupations, 2,000 in administrative and sales occupations, 1,600 in distribution occupations and over 1,000 in professional and managerial occupations. Underemployment Studies have shown that firms that expand or grow in York County draw from those who are already employed. A recent survey found that many people expressed an interest in changing jobs, creating a pool of desirable candidates for new employment opportunities. These underemployed workers were surveyed in York, Chester, Lancaster and a portion of southern Mecklenburg counties constituting the Catawba Labor Shed area. This pool of workers possesses the skills, experience and education that seem to qualify them for job upgrades. In addition to underemployed workers, the study found that 4,300 people, approximately 76% female, are not actively seeking work would accept a good job if offered. Number of underemployed workers 24,900 Number of unemployed persons who are seeking work 15,300 Number of persons who are not working,but are contemplating re-entering the workforce 4,300 Total number of workers available for employers 44,500 Employment Skills of Underemployed Workers* Number of Persons Percentage Office Operations 17,900 72% Warehouse/Distribution/Transportation 14,900 60% Manufacturing/Assembly/Fabrication 15,200 61% Medical/Health Services 5,200 21% Maintenance/Installation Repair 8,000 32% Call Center 6,000 24% Information Technology/Telecommunications 7,700 31% Sales/Customer Service 14,400 58% Industrial Operation/Industrial Processing 9,200 37% Electronics/Engineering 6,500 26% Government/Education 8,500 34% Computer Operations (including Computer-Controlled machines) 14,200 57% * Individuals polled may have skills in more than one job classification Wage Expectations of Underemployed Workers* Underemployed workers might also be termed upgraders with the skills, experience and education to justify desired pay rates ranging from $8.00 to $30.00 an hour. The pay required to hire people among these underemployed workers is consistent with that required in more that two hundred locations surveyed nation-wide. The upper end of the pay range for this group, a rate of $24.93 an hour or more would be required in order to change jobs. At the lower end of the pay required to change jobs, 25% of those surveyed would take a new job for $12.62 an hour. Those not actively seeking work would re-enter the workforce if offered a good job with a median rate of $12.00. Sources: South Carolina Employment Security Commission, “The Catawba Region of South Carolina Labor Availability Report” by The Pathfinder 2006 Labor Force Current Employment Labor Participation 30-mile Radius of Rock Hill 45-mile Radius of Rock Hill York County Labor Force Participation Rate 46.3% 45.9% 46.0 % The average South Carolina is 49%. Distribution by Age 20 - 24 19.6 % 19.6 % 19.7 % 35 - 49 22.9% 51.4% 51.5% 50 - 64 17.2% 17.3% 17.3% Distribution by Sex Male 48.6 % 48.6 % 48.5 % Female 51.4% 51.4% 51.5% Education High School Graduates 31.1% 31.7% 31.7% 1-3 Years of College 18.8% 18.4% 18% College Graduates 6.6% 6.4% 6.2% Post Graduates 12.2% 11.6% 11.8% Sources: South Carolina Employment Security Commission, South Carolina Dept. of Commerce 2005 Labor Profiles for Rock Hill and York County Workers Compensation Average Cost for All Manufacturing per $100 Payroll $2.08 Maximum Weekly Benefit (1999) $616.48 Days of Waiting Period 7 Training Center for Accelerated Technology Training The Center for Accelerated Technology Training is a program of the South Carolina Technical College System designed to provide tailor-made training to new and expanding industries in South Carolina. The college system was founded on the premise that the state would be better served by providing a way to train its citizens and employ them in South Carolina with jobs that the state helped to create. When the concept of technical education was being proposed, many of South Carolina's young people were leaving the state to pursue higher paying jobs in other geographic regions. There was a profound need to be more proactive in recruiting business and industry into the state, in training citizens for the jobs that those industries would create and in maintaining a commitment to that training should businesses want to expand and grow within our state. The Center for Accelerated Technology Training keeps as its main purpose to offer trained employees to a company when the doors are first opened for operation. Since 1961, 233,763 people have been trained for new jobs in 1,817 companies. The Center for Accelerated Technology Training program has been highlighted on NBC Nightly News, "America Close Up" with Tom Brokaw, ABC News with Peter Jennings, and in the Wall Street Journal. How the Center for Accelerated Technology Training Operates Project Management, Development and Implementation South Carolina is one of the few states in the nation that provides project management staff for the duration of the training project. Most customers find this to be an invaluable asset when in a startup or expansion status. The Center for Accelerated Technology Training’s staff has been in the training business for over forty years and brings to each project a level of professionalism and experience that only enhances the overall effort. Process Analysis Our project team will visit one of your facilities similar to that which will be built in South Carolina. We will observe processes, review documentation, equipment and analyze skill levels. This visit allows us to not only better understand your processes but also to actually observe employees performing job tasks, talk with your experts and become familiar with the work place environment. Project Schedule The Center for Accelerated Technology Training Team will identify all time frames for curriculum and training material development, site preparation, instructor selection and, if necessary, instructor training. All activities will be scheduled to meet your projected hire dates. Applicants The Center for Accelerated Technology Training will ensure that quality applicants are recruited through a variety of methods for every training program. We work very closely with the South Carolina Employment Security Commission and their local Job Service offices to recruit and test applicants. Through the interviewing process, the company selects all applicants for training. Trainees Trainees attend any pre-employment training classes on their own time without pay. The project staff also monitors on the job training and all trainees are expected to meet the established goals of the training even though they are on the company payroll. Successful completion of a pre-employment training program carries no obligation on the part of the trainee to accept any offer of employment nor does the company guarantee an offer. All post-employment training is structured and monitored by project staff. All the goals of the post-employment program must be met even though the trainee is already on the company payroll. Curricula The Center's staff coordinates development of training content and design with your company to ensure new employees learn the specialized skills demanded by your process. The Center for Accelerated Technology Training has a large training library and curriculum development staff. Training Site The Center for Accelerated Technology Training commits to provide a suitable training site if one is not available at the company facility. Often training is conducted at the local Technical College in the area or a site provided by the community. The training facility will be upfitted as necessary by the Center’s Support Unit. Instructors The Center for Accelerated Technology Training will secure and train qualified instructors for both pre-employment and on the job training. Sources for these instructors are your company, your vendors, local technical college personnel, local industry personnel and others as appropriate. Specialized Training Support Programs Several programs have been either developed by the Center’s staff or purchased to support various aspects of the training delivery system: The Expert OJT System™ is a very structured method for the design and accomplishment of post-employment training. It involves job and task analysis, curriculum development as well as design of training and job aids. The resulting documentation becomes a blueprint for a production process and can become the basis for quality certification. (i.e., ISO 9000, QS 9000, ISO 14000 or AS 9000). The Train the Instructor Program is designed to develop your company personnel in specific job functions into competent instructor/coaches and task analysts. These individuals will be able to document your processes, with coaching assistance from our curricula development professionals. This company-specific material will become the foundation of the process training. The Center for Accelerated Technology Training will certify these individuals as pre- or post-employment training instructors dependent upon need. This training provides for a very effective transfer of knowledge from your experts into a deliverable training program. It also leaves the company with an internal resource to provide ongoing training. Organizational Development Training is offered in the following areas: ISO’s 9000 & 14000, TQM, World Class Concepts, Corporate Community Relations and Diversity. Team Training is offered in areas of team development, leadership, creative problem solving, change management and effective communications. The Center offers also a Team Leap™ Training program designed to assist the traditional supervisor in making the transition to team leader. York Technical College In York County, York Technical College offers CATT programs and a comprehensive Continuing Education program where citizens can continually upgrade their skills. In October, 2004, York Technical College's Institute for Manufacturing Productivity was awarded the Community Economic Development Best Practice Award at the annual Community College Leadership Congress of the Association of Community College Trustees held in New Orleans. For more information contact: Larry Lindsey, Area Director 452 S. Anderson Road Rock Hill, SC 29730-3395 Phone: 803-327-8054 www.sctechsystem.com Business Community Many companies that can locate anywhere in the world chose York County as the best of all worlds. Why? Commitment to promoting business growth and expansion, low start up costs, availability of skilled labor, and excellent return on investment. Major Private Employers Employment Company City Product 1500 Wells Fargo Home Mortgage Fort Mill Home Mortgage 1071 Duke Power-Catawba Nuclear Station York Nuclear Power 1039 Bowater Coated and Specialty Papers Division Catawba Coated & uncoated paper 852 Ross Distribution Fort Mill Distribution 800 Stacy's York Plants 800 U. S. Foodservice, Inc. Fort Mill Distribute food 700 CitiFinancial Fort Mill Financial services 673 Leiner Health Products Fort Mill Vitamins and nutritional supplements 570 Schaeffler Group USA, Inc Fort Mill Needle & roller bearings 550 Hella Lighting York Automotive lighting fixtures 517 Muzak Fort Mill Audio Architecture 500 Black & Decker Fort Mill Distribution 490 Tyco Electronics Rock Hill Computer Connectors 405 Springs Industries, Inc. - Executive Office Fort Mill Corporate headquarters 355 Champion Laboratories, Inc. York Auto oil filters 350 ArvinMeritor York On-highway brakes, components & axles 315 Northern Tool and Equipment, Inc. Fort Mill Distribution of tools 300 Pharr-Yarns-Clover Division Clover Carpet yarn 285 West Marine Rock Hill Boating Supplies 285 American Eagle Wheel Corp. York Aluminum Wheels Updated 3rd Quarter 2006 Fortune 500 Firms Bank of America, Lowes, Wachovia, Duke Energy, Goodrich, Nucor, The Charlotte Region is home to the headquarters of nine Fortune 500 firms and over 300 Fortune 500 companies have a presence in the region. Tax & Business Incentives Overview York County & South Carolina South Carolina's philosophy is to offer a fair, stable and reasonable tax structure that allows businesses to grow and prosper. Conservative fiscal management and taxation policies create a climate that encourages growth while maintaining a balanced budget. York County and South Carolina have various incentive programs that add to the positive business climate. These incentives are designed mainly to limit tax liability in the most significant state and local applications such as corporate and personal income tax, sales tax and local property tax. • In South Carolina, only local government levies property taxes. • There is no tax, state or local, on inventories or intangibles in South Carolina. • York County has the ability to negotiate local property taxes from a 10.5% down to a 6% assessment or a 43% reduction. Corporate & Personal Income Tax Corporate Income Tax South Carolina has the lowest corporate income tax rate in the Southeast and one of the lowest in the nation. South Carolina income tax is imposed upon South Carolina taxable income of domestic and foreign corporations. South Carolina collects at a 5% corporate income tax rate. • Partnerships are not subject to South Carolina corporate income taxes. • Corporate Income Tax Exemptions - insurance companies, certain non-profit corporations organized for the purpose of providing water supply and/or sewage disposal, banks, building and loan associations and certain electric cooperatives • “S” corporations are exempt to the extent it is exempt from federal corporate income tax. South Carolina Jobs Tax Credits - Corporate Income Tax application Corporate Income Tax levied in South Carolina is 5% and is based on a tripartite formula of sales, payroll and asset with sales in SC double-weighted. Compared to North Carolina’s 7% corporate income tax rate, there is an immediate savings when compared to SC. In addition, SC allows qualified and eligible companies a Jobs Tax Credit in the amount of $1,500 per job in York County and $2,500 per job in a Multi-County Industrial Park. The minimum number of jobs created is 10 net new jobs in one year. The credit is per job, per year for five years and is applied towards the corporate income tax in SC and cannot equal more than 50% of any one year's liability although there is a 15 year carry forward for unused credits. Enterprise Program (Jobs Development Credits) - Personal Income Tax application Personal income is tiered in SC based on earned income however most employees at the $30,000 annual salary range would be subject to a 7% assessment. For qualified companies, upon successful application and approval, the SC Coordinating Council for Economic Development establishes a Revitalization Agreement for Jobs Development Credits. This program allows eligible companies to retain a portion of the personal withholding amount between 2 to 5 percent of wages to the employees and use these accrued funds for fixed capital investments, e.g. land and building, leasehold improvements, expansions and other non-personal investment. Machinery and equipment (FF&E) purchases are specifically excluded from eligible expenditures. The program allows an eligible company to accrue JDC's for a period of 10 years and also is qualified based on the development status of the particular county. Corporate Headquarters Credits A corporation establishing a corporate headquarters in South Carolina, or adding to an existing corporate headquarters, is entitled to a credit against corporate income and license taxes. The credit is equal to 20% of the (a) qualifying real property costs incurred in the design, preparation and development of either establishing or expanding a corporate headquarters, and (b) direct construction or direct lease costs for the first five years of operations for the headquarters. In order to quality for the credit, the headquarters or expansion must result in the creation of forty (40) new headquarters function jobs or research and development related functions and services, twenty (20) of which are executive, administrative or professional jobs. The qualifying real property costs involved must be at least $50,000. Local Property Tax Real and personal property used in business are subject to property tax levied by local governments. Although property tax is collected locally, the South Carolina Department of Revenue (DOR) generally oversees property tax collections to ensure equitable and uniform assessment throughout the state. The Department of Revenue appraises manufacturing and distribution facilities. There is no state or local tax on intangibles or inventories. The calculation of property taxes involves the following three elements: 1. Valuation 2. Assessment Ratio: The assessment ratio, established in the State Constitution to ensure stability, is 10.5% for manufacturing property (in the absence of a fee-in-lieu agreement) and 6% for commercial real property. Commercial personal property is assessed at 10.5%. The valuation is multiplies by this ratio to produce the “assessed value” of a particular piece of property. Taxes are levied based upon this assessed value. 3. Millage: Each taxing jurisdiction determines on an annual basis the number of mills required to apply to the total assessed value of property subject to taxation within its jurisdiction in order to raise the money it needs to operate for the next year. (Each jurisdiction also takes other sources of revenue into account in making this determination.) The 2005 average York County millage rate is 271 mills. 4. Exemptions: Inventories and intangible property are exempt from property taxation Incentive programs for local property tax reduce property tax liability by property tax abatement or Fee-in-lieu of property taxes. Tax Abatement Any manufacturing company that invests in land, building, and machinery and equipment, with a sum of $50,000 or greater, is eligible to abate the county operating tax for York County, currently at 57.9 mills. A distribution company may be eligible for abatement if the project creates 75 or more new jobs. The abatement stands for five (5) years and does not affect the depredation value of the property. The abatement must be filed, in the same tax year as the purchase was made, to the Department of Revenue. Fee-in-Lieu of Taxes For eligible and qualified companies, York County is potentially able to provide as much as a 43% property tax reduction for a 20-year period through the Fee-in-Lieu of Taxes program. Assuming a minimum net-taxable investment of $10 million, York County may be willing to reduce applicable real and personal tax assessment rates from 10.5%(for manufacturing) to 6% for a twenty year period. Another benefit to this program is the elimination of any annual property tax increases since rates would be locked for five year increments during the 20-year agreement. Sales & Use Tax Sales Tax - Manufacturer's Exemption South Carolina imposes a sales and use tax of 5%, the proceeds of which are used exclusively to fund the public school system. The sales tax applies to all retail sale, lease and rental of tangible personal property. SC exempts any applicable sales tax for purchases that are an integral part of the manufacturing process including raw materials, machinery and equipment for manufacturing, electricity used for manufacturing, packaging materials and other products as allowed by law. York County has leveraged a 1% additional tax, recently renewed by county voters, to improve roads throughout the county. York County’s sales tax rate is 6%. Unemployment & Workers Compensation Unemployment Taxes Firms employing one or more persons for 20 weeks in a calendar year or having a payroll of $1,500 in a given quarter are required to pay contributions into the trust fund based on the first $7,000 paid by the employer. The rate is 5.4 % for a period of 12 months until a company is eligible for an experience rate. The South Carolina Employment Security Commission computes a new rate based on the experience of the employer. Contributions are computed and returned quarterly. Under the experience rating, an employer may have a contribution rate ranging from a maximum of 6.10 % to a minimum of .74 %. This is based on three factors: • most recent taxable annual payroll • contributions made to the trust fund • and benefits charged against his account for unemployment insurance paid to former or current employees. • The average experience rate is 2.64%. For additional information, visit the South Carolina Employment Security Commission Web site at www.sces.org. Workers Compensation A firm with four or more employees is subject to the provisions of the Workmen’s Compensation Law that is administered by the South Carolina Industrial Commission. A recent mandate reduced the tax on workers’ compensation insurance premiums and self-insurer expenses from 4.5 percent to 3.5 percent to 2.5 percent. Even before these changes, South Carolina had the tenth lowest average workers’ compensation in the nation and the third lowest in the Southeast. Quality of Life Cultural Amenities While access to Charlotte is immediate, the advantage of York County's location is distinct. York County is home to two of the best attractions in South Carolina – Paramount’s Carowinds theme park and Historic Brattonsville. Several Brattonsville locations were used as sets for the filming of the major motion picture The Patriot starring Mel Gibson. The region’s cultural lineup also includes nationally recognized museums, symphony, opera, theater and dance companies. The Blumenthal Performing Arts Center is home to the Charlotte Symphony Orchestra, Opera Carolina, Charlotte Repertory Theatre, Charlotte Choral Society, Charlotte Oratorio Singers, and the NC Dance Theater. The Discovery Place, a “hands-on” science museum, contains an OMNIMAX theatre and the Kelly Space Voyager Planetarium. The Mint Museum of Art hosts internationally renowned artists. The Museum of York County also provides art, history & natural history exhibits. Recreational Opportunities With a mild year-round climate, recreation opportunities abound. Outdoor activities include boating, hiking and playing on some of the nation’s most outstanding golf courses. Lake Wylie and the Catawba River provide ample opportunity for water sports in York County. The Anne Close Springs Greenway offers 26 miles of hiking, horseback and bicycle trials weaving through over 2,000 acres in Fort Mill. A short drive to the Blue Ridge Mountains or the famed Carolina beaches, York County also offers easy access to a variety of destinations. With teams in the NFL, NBA, ECHL and triple-A baseball as well as the reputation as a major NASCAR headquarters, the region continues to be recognized as a national sports market. York County is home to the Knights Stadium, Charlotte’s triple-A affiliate to the Chicago White Sox. Lifestyles York County’s location provides a wide range of housing options from lakeside living to rural settings. Plentiful shopping, dining, entertainment, medical service options make York County an ideal location. From home cooking to trendy, restaurants offer foods from all over. Shopping opportunities include the nation-wide retailers and upscale boutiques. York County also has a wide range of medical services available, with specialists in most branches. York County Schools At the start of the 21st Century, the challenges of global economic competition create an ever growing emphasis on the improvement of our educational system. And in South Carolina, this issue takes center stage. We are one of the five states leading the nation in systematic reform of education. The York County public school system ranks among the top districts within the state, with average SAT scores of 1022 (for 2003) compared with the national average of 1026 and a state average of 989. York County schools consist of four school districts and seven private schools. Public Schools District #1 York District # 2 Clover District #3 Rock Hill District #4 Fort Mill Superintendent Dr James Jennings Dr Vickie Phelps Dr. Randy Bridges Dr. Keith Callicutt Phone 803-684-9916 803-222-7191 803-981-1000 803-548-2527 Number of Schools 8 8 22 8 Elementary/Middle/High 4/2/1 6/1/1 15/4/3 5/2/1 Total Enrollment 4,912 5,116 16,021 6,937 Private Schools School Grades offered Enroll-ment City Denomination Phone Ann Barron Child Dev Center K 10 Rock Hill Presbyterian 803-327-9549 Blessed Hope Baptist K-12 183 York Baptist 803-689-9819 Catawba Baptist Child Dev Center K 15 Rock Hill Baptist 803-324-1194 L Springs Recreation Complex K 15 Fort Mill N/A 803-547-1035 Saint Anne School K-8 333 Rock Hill Catholic 803-324-4814 Trinity Christian School K-12 373 Rock Hill Nondenominational 803-366-3121 Westminster/Catawba School K-12 761 Rock Hill Presbyterian 803-366-1810 Comparative SAT Scores District District #1 York District # 2 Clover District #3 Rock Hill District #4 Fort Mill County Totals/ Avg South Carolina Avg Total # of Seniors 338 359 968 429 2,094 38,393 # Taking SAT 2005 116 168 499 327 1,110 18,747 # Taking SAT 2006 134 184 483 341 1,142 19,233 % Tested 2006 40% 51% 50% 79% 55% 49% Total Score 2005 969 981 1026 1064 1010 961 Total Score 2006 967 1009 1000 1082 1015 949 Avg Verbal Score 489 490 507 522 502 493 Avg Math Score 505 520 518 537 520 496 Sources: York County Schools, South Carolina State Department of Education Contact Services offered by the York County Economic Development Board The York County Economic Development Board provides a variety of information and free services designed to help businesses locate or expand commercial operations in York County. We assist companies with almost every facet of capital investment and job creation including traditional economic development arenas such as site or building selection and development, but also assistance with financing, labor resources, jobs training, permitting and other aspects of a company’s location or expansion decision. Our goal is to be the point of contact for York County in not only the initial stages of a project, but also provide assistance years later in the efforts to grow and expand business. Our Web Site Check our Web site for additional information on York County, SC: www.ycedb.com . York County Economic Development Board 1830 Second Baxter Crossing Fort Mill, SC 29708 Phone: (803) 802-4300 Fax: (803) 802-4299 www.ycedb.com Mark Farris, Director Teresa Curtice, Existing Industry Coordinator Barbara Mayes, Economic Development Assistant Melissa Nypaver, Marketing Specialist
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