Chris Woods News
This article originally appeared in Arkansas Business
Carvana, an e-commerce platform for buying and selling used cars headquartered in Tempe, Arizona, plans to open an inspection and distribution center in West Memphis and create more than 400 jobs in the coming years.
The company will invest $40 million in the building, equipment and infrastructure, according to a news release.
“Carvana is an upstart company that is changing the used car industry through technology and great customer service,” Gov. Asa Hutchinson said in the news release. “That’s just the sort of business model we have sought in our recruiting efforts, and we’re pleased to see these high-paying jobs coming to the Delta.”
Carvana customers can shop more than 15,000 vehicles on Carvana.com; finance, purchase, trade in an existing vehicle; and schedule delivery or pick up at one of the company’s patented Car Vending Machines.
Economic development officials said Carvana’s West Memphis center will be for auto inspection and distribution — not a vending machine. The company has 21 vending machines, in cities including Dallas; Nashville, Tennessee; Charlotte, North Carolina; Washington, D.C.; Orlando, Florida; and Pittsburgh.
The company offers “as-soon-as-next-day delivery” in 141 markets across the U.S. and has 21 Car Vending Machine locations, offering customers what it calls a memorable pickup experience and inspection centers where its inventory is inspected, reconditioned, photographed and stored.
“Carvana has been growing extremely rapidly over the last several years and we are working to bring The New Way to Buy a Car to even more customers all the time,” said Benjamin Morens, director of infrastructure development and operations.
“The Carvana facility will undoubtedly create national buzz,” Commerce Secretary Mike Preston added. “That will allow us to showcase the city and state in a way that will put Arkansas on the forefront of even more opportunities.”
The project qualifies for incentives through the state Economic Devlopment Commission. They are:
- Two five-year “Create Rebate” periods, one for each phase of the two-phase project.
- Tax Back, which provides sales tax refunds on building materials, taxable machinery and equipment associated with the project.
- And $1 million from the governor’s Quick Action Closing Fund for equipment.
Chris Woods Construction Co., Inc. will be the general contractor for this project.