Major Trends

The preparation of the budget and the information provided in the financial statements are impacted by economic trends. These trends include the local economy, long-term local and state financial implications, and the larger national economy. Economic and Demographic Characteristics

After years of a steadily decreasing rates, Rock Hill experienced a significant increase in unemployment rate with the COVID-19 public health response that began in March 2020. Although the COVID-19 related unemployment rate has not reached the same level as the Great Recession, the City has worked to help impacted residents and businesses. Due to the pressure brought about from the pandemic, the City of Rock Hill remains committed to attracting and retaining businesses. Rock Hill shifted to resident and small business assistance, working with local partners to develop the Rock Hill Unite program. This program has several components, one of which assists residents with utilities payments and another provides loan assistance to small businesses. The small business element of Rock Hill Unite was designed to grant assistance to local small businesses that were not eligible for the Federal Small Business Administration Paycheck Protection Program (PPP). Rock Hill Unite began taking applicants for both programs in late FY2020, so results of this program will be seen in FY2021. Despite the challenging unemployment numbers for the end of FY2020, there was an increase in the value of construction activity. FY2020 saw permit valuation increased by 4% (from $260 million in FY2019 to $271 million in FY2020). This permit valuation number includes any changes/ adjustments that occur during the construction process. The City of Rock Hill continuously monitors economic trends to ensure the City adapts policy as economic difficulties such as COVID-19 arise.

Rock Hill Top Employers

Employer Employees (FTE) Rock Hill School District 2,400 Piedmont Medical Center 1,682 Comporium 1,107 Winthrop University 816 City of Rock Hill Atlas Copco USA Williams & Fudge, Inc. 738 650 370

Capital Projects

Water and Waste Water Treatment Plants

The City recognizes the value of multi-year planning. For the past few decades, the City annually prepares a ten year long-range plan. This allows City staff to balance two years of budgets at a time and then project funding gaps for the remaining three years before a mid-plan update. This type of planning allows the City to proactively plan for expenditure changes and future additional revenue sources. For the electric, water, and sewer Water Filtration Plant construction public utilities and stormwater, the City also utilizes a ten year long-range plan to project future plant expansions and maintenance projects. The City of Rock Hill is the regional water and wastewater provider for much of the surrounding County, which has seen the affects of continued growth. In an effort to meet the projected needs of our customers, the City is currently upgrading both plants to provide for additional capacity. Combined, these two projects represent a nearly $200 million total investment in infrastructure needed to manage the demands of growth across the entirety of York County.

Rock Hill Sports and Event Center

The Rock Hill Sports and Event Center (RHSEC) is a 170,000 square foot indoor amateur sports facility that anchors the University Center redevelopment project within Knowledge Park. Construction on the RHSEC was completed in December 2019, but the public health response to COVID-19 prevented a grand opening event. Staff worked diligently to implement safety protocols to accommodate a phased-in approach to fully opening the center within CDC guidelines. With protocols in place, Rock Hill was able to host the American Cornhole League Invitation Qualifier which was televised live on ESPN and ESPN2 during a time when live sports events were not being held. The COVID-19 restrictions made the initial opening of the RHSEC a “soft” opening, allowing The Rock Hill Sports and Event Center for smaller events to take place as scheduled.