CarLotz, the nation’s largest consignment-to-retail used vehicle marketplace, will retain and expand its headquarters in Richmond, Virginia. The project is expected to create 192 new jobs.
The company will relocate operations from its location in the Manchester neighborhood of Richmond to the Handcraft Building in Scott’s Addition to accommodate recent growth.
“CarLotz was born in Virginia, and we couldn’t be more excited to build this next chapter of the company right here in our home state and in the city we love,” said Michael Bor, Co-Founder and CEO of CarLotz. “We are confident in the workforce and the access to markets that further investing in Virginia will provide for CarLotz, our team members, and our guests.”
The Virginia Economic Development Partnership (VEDP) worked with the City of Richmond to secure the project for Virginia. Governor Northam approved a $700,000 grant from the Commonwealth’s Opportunity Fund to assist Richmond with the project. CarLotz is also eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development.
“CarLotz has experienced tremendous success since its founding in Richmond a decade ago, and we are excited to see this homegrown company deepen its roots in the Commonwealth,” said Governor Ralph Northam. “With a fourth Virginia location opening in late June, CarLotz continues to expand its network of hubs in the Mid-Atlantic and nationwide. Central Virginia has a deep bench of skilled workers and a strong commitment to developing a robust talent pipeline, making the region an ideal location for fast-growing businesses like CarLotz.”
Support for the company’s job creation will be provided through the Virginia Talent Accelerator Program, a workforce initiative created by VEDP in collaboration with the Virginia Community College System and other higher education partners, with funding support from the Northam Administration and the Virginia General Assembly. Launched in 2019, the program accelerates new facility start-ups through the direct delivery of recruitment and training services that are fully customized to a company’s unique products, processes, equipment, standards, and culture. All program services are provided at no cost to qualified new and expanding companies as an incentive for job creation.
“Richmond has proven to be a great home for CarLotz, offering a wonderful community and a talented workforce to support its growth,” said Secretary of Commerce and Trade Brian Ball. “We thank the company for creating nearly 200 high-quality jobs and look forward to many more years of partnership with CarLotz.”
CarLotz was founded 10 years ago in Richmond, Virginia as a peer-to-peer car consignment marketplace designed to put the value back into the hands of people. Today, it has grown to be the nation’s largest consignment-to-retail used vehicle marketplace with hubs across the country. CarLotz’s omnichannel approach offers guests exceptional experiences whether online or in-hub.