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Concord to be site of Carvana expansion, $35 million investment

August 20, 2019

It appears that online used-car retailer Carvana has plans to open a center in the Charlotte region at the former Philip Morris plant site, a move expected to come with hundreds of new jobs, upon incentives approval.

Carvana Co. (NYSE: CVNA), a Tempe, Arizona-based company known for its car vending machines, is seeking to build a 304-job, $35 million facility in Concord, according to notes from a recent Concord City Council meeting during which $428,400 in grants was approved for Project Wavy, affiliated with Carvana LLC. The three-year grant from the city is performance-based, meaning the company is required to make its investments and pay taxes before it will be eligible for any incentives payments.

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