Local semiconductor plant on ice?

CHARLOTTE — An under-the-radar manufacturing startup had expected to move its headquarters to Rock Hill raised $30 million toward the end of last year. That’s on top of $74 million it secured in 2022.

The Albany, New York-based company, Pallidus Inc., which makes silicon carbide wafers for semiconductors, also hired the former chief financial officer of Intel Corp. as its top executive.

The fresh fundraising and leadership change followed a February 2023 announcement that the company would be relocating its corporate headquarters to Rock Hill.

The South Carolina Department of Commerce said at the time that Pallidus would be making a $443 million investment and creating 405 jobs, with operations starting “by the third quarter of 2023.” The company’s operations were set to be housed in 300,000 square feet at 1786 and 1800 Overview Drive near Waterford Golf Club.

More than a year after the announcement, CBJ sister publication the Albany Business Review could not determine the project’s status. Also unclear: the company’s current employee tally and the status of a possible expansion in New York.

Meanwhile, Pallidus has yet to claim financial incentives it was awarded in New York and South Carolina, according to economic development agencies in the two states.Best places to beat the heat in Charlotte

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