Carvana Invests in Ohio for Proximity to Multiple Markets

Company Name: Carvana
Location: Elyria
Industry Sector: Logistics and Distribution
Company Profile: Founded in 2012 and based in Phoenix, Carvana’s (NYSE: CVNA) mission is to change the way people buy cars. By removing the traditional dealership infrastructure and replacing it with technology and exceptional customer service, Carvana offers consumers an intuitive and convenient online car buying and financing platform. Carvana.com enables consumers to quickly and easily shop more than 15,000 vehicles, finance, trade-in or sell their current vehicle to Carvana, sign contracts, and schedule as-soon-as-next-day delivery or pickup at one of Carvana’s patented, automated Car Vending Machines.
Company Website: www.carvana.com 

Project Summary:

• Type of Project: New location
• Jobs Committed: 400
• Capital Investment: $23 million

Company Need:

The fast-growing online auto retailer Carvana sought to expand market reach.

Testimonial:

“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. As part of our efforts to scale the business, we’re looking forward to working with Lorain County, Elyria Township, and the cities of Elyria and Lorain to open a vehicle inspection and reconditioning center, and becoming a member of the community.” – Brian Boyd, VP of inventory strategy, Carvana

Why Ohio?

Carvana plans to build an inspection, reconditioning and distribution facility in Elyria, in Northeast Ohio. This location is strategically positioned within the company’s national logistics network to help service their growing customer base.

Ohio’s geographic location is central, giving companies access to more than 60 percent of U.S. and Canadian populations within a one-day drive, including a multitude of markets in the Midwest, Great Lakes and Eastern regions.

JobsOhio supported the project by issuing a Job Creation Tax Credit along with an Economic Development Grant and a Roadwork Development (629) grant.

Collaborators:

Team NEO, JobsOhio, Ohio Development Services Agency, Ohio Department of Transportation Jobs and Commerce, Elyria Township, Lorain County Board of Commissioners and County Prosecutors, and the cities of Elyria and Lorain