Salt Lake City— The Utah Governor’s Office of Economic Development (GOED) is pleased to announce that Carvana plans to open an Inspection and Reconditioning Center in Tooele, planning to add nearly 200 new jobs in the state in the next seven years. 

“Carvana has changed the car-buying experience, especially during a worldwide pandemic,” said Dan Hemmert, GOED’s executive director. “This expansion will allow the company to serve the state and the Southwest region better as well as create almost 200 jobs. We wish Carvana the best success as they continue to grow.”

Carvana is a national, leading online auto retailer, offering a 100 percent online car-buying and selling experience with great prices in a no-pressure environment: from the comfort of home or on the go via mobile device. Customers determine when, where and how they get their next car, saving them valuable time and money by allowing them to skip the traditional dealership experience. 

Carvana may earn up to 20 percent of the new state taxes it will pay over the seven-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Finance (EDTIF) tax credit. The GOED Board has approved a post-performance tax credit not to exceed $757,736. Each year that Carvana meets the criteria in its contract with the state, it will earn a portion of the total tax credit.

“Carvana is a great win for Tooele City, thanks to the hard work of Mayor Winn and Jared Stewart,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “Furthermore the company has committed to the community through a significant investment in workforce development. Carvana employees will have substantial means to better themselves through training and education.”

State of Utah Tax Credit Projections by the Numbers

Tax revenue: $3,788,682

Wages: $53,437,904

Jobs: 173

Capital investment: $42.5 million

Timeline: 7 years

About Utah Corporate Incentives

The Utah Legislature has authorized economic development incentives in the form of post-performance tax credits. Eligible companies work with the Utah Governor’s Office of Economic Development to outline specific performance criteria. Once GOED confirms those criteria have been met, according to statute (U.C.A. 63N-2-106(2)), companies can receive a refund of up to 30 percent of the state taxes they paid for up to 20 years. The contract with the state is post-performance; it only provides a state tax credit if the company meets its obligations.

About Utah Governor’s Office of Economic Development

Under Gov. Spencer J. Cox’s direction, the Utah Governor’s Office of Economic Development (GOED) provides resources and support for business creation, growth, and recruitment. It also drives increased tourism, film production, outdoor recreation, and mixed martial arts in Utah. Utilizing state resources and private sector contracts, GOED administers programs in economic areas that demonstrate the highest potential for development and the most opportunity for Utahns. Learn more at business.utah.gov or by calling (801) 538-8680.