ACV Auctions has completed updates to its Buffalo headquarters, aiming to boost research, development, and engineering work that supports the company’s national operations. The improvements include expanded workspace and laboratory areas designed to encourage collaboration and technical progress.
Governor Kathy Hochul commented on the company’s trajectory since winning the 43North startup competition: “If you want to celebrate the success of the 43North startup competition, you need look no further than ACV Auctions — a company that has experienced exponential growth since winning nearly a decade ago,” Governor Hochul said. “During these difficult economic times, more people are purchasing used vehicles that fit their family budget. Dealers across the country rely on ACV’s data and AI to build their inventory efficiently. I applaud ACV for growing and adding jobs in my hometown of Buffalo.”
ACV Auctions operates as a digital marketplace where dealers and commercial clients can buy and sell wholesale vehicles online. The platform leverages artificial intelligence and machine learning for vehicle condition reports, pricing, and inventory insights.
The company expects to hire an additional 102 employees over four years, with most roles in technology and development. The average salary for these new positions is projected to exceed $90,000 per year. Empire State Development (ESD) is providing up to $2 million in performance-based Excelsior Jobs Program tax credits if hiring goals are met.
Empire State Development President, CEO & Commissioner Hope Knight stated: “ACV Auctions is a model for how New York’s startup ecosystem can fuel long-term success. The company’s ongoing investment in research and technology demonstrates the strength of Western New York’s innovation community, and ESD is proud to support its ongoing role in the state’s technology ecosystem.”
