Cabarrus OKs Incentives For Carvana At Old Philip Morris Site
Cabarrus County commissioners have approved an economic development grant for online used car dealer Carvana, which plans to open a facility at the old Philip Morris site in Concord.
The grant would be for three years, but the amount is unclear. The county says Carvana, known for its car vending machines, plans to invest $35 million into the facility and create around 300 jobs that would include vehicle inspection, certification, and reconditioning.
The average wage would be $19.50 an hour – or about $40,000 a year.
The Charlotte Business Journal reports the city of Concord had previously approved a three-year grant for the project worth nearly $430,000.
The site, now known as The Grounds at Concord, used to house the Philip Morris cigarette plant. The Charlotte Observer reported earlier this year that the massive plant was set to be demolished to make way for an economic development site.
The incentive agreement approved by Cabarrus commissioners says Carvana plans on "upfitting an existing facility" at the site.
Similar sites are in use around the Charlotte region and are typically designed to lure large businesses to the area.
Carvana has three vending-machine sites in North Carolina, including one on South Boulevard in Charlotte.