Chris Woods News

Carvana’s local investment to include $40M, 450 jobs

Posted by | October 01 2019

This article originally appeared in the Memphis Business Journal

Carvana’s new West Memphis facility will create more than 450 jobs, the company announced Friday.

The Memphis Business Journal first reported in July that the used-car e-tailer was in advanced negotiations to place an industrial facility in the 217-acre Mid-America Industrial Park. The deal closed recently and will include a $40 million investment, according to a news release sent Sept. 20.

Carvana will use the West Memphis property as an inspection and distribution center. Cars will be inspected, reconditioned, photographed, and stored there.

“Our city has so much to offer in the way of resources, location, and workforce, and we appreciate that Carvana recognizes that,” West Memphis Mayor Marco McClendon, said in the press release.

According to Brandi Hinkle, director of communications for the Arkansas Economic Development Commission, the project will receive a $1 million cash grant from the state; 4.5 percent of the payroll for the 450 employees will be rebated for 10 years; and part of the local sales and use tax will be returned to Carvana on any capital improvement spend.

“Carvana is an upstart company that is changing the used car industry through technology and great customer service,” said Arkansas Gov. Asa Hutchinson. “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.”

The Mid-America Industrial Park is owned by the City of West Memphis and is located just northwest of the I-40/I-55 split, adjacent to the Union Pacific intermodal terminal.

The online car retailer is building one of its famous car-vending machines in northeast Memphis, just north of I-40 at 7201 Appling Farms Parkway.

Chris Woods Construction is looking forward to working with Carvana on this project.