The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Fri Sep 16, 2016
INDIANAPOLIS - Patrick Industries, Inc., a publicly traded manufacturer and distributor of components and materials serving the recreational vehicle, manufactured housing and other markets, was recognized as the 2016 Indiana Public Company of the Year in ceremonies at the INVESTIndiana Equity Conference on Thursday.
Patrick Industries, headquartered in Elkhart, Indiana, generated revenues of $920 million in 2015. It employs 4,800 people and operates more than 60 facilities in 16 states. CFO Josh Boone accepted the Grand Award recognizing the company's superior performance as measured against other Indiana public companies. A set of weighted, quantitative metrics was applied to each company's comparative rankings on returns on assets and equity, revenue growth, market performance and total return over a two-year period.
From 2010 to 2016, Patrick Industries acquired 29 companies with aggregate revenues of $670 million and is focusing on continued growth through operations and acquisitions and extending its geographic product reach.
"We support and empower the creative entrepreneurial spirit of each of the businesses we operate," the company says in materials submitted to the awards committee.
The finalists, in rank order, were:
Runner-up: Drew Industries Inc., an NYSE-traded company also based in Elkhart. Through a wholly-owned subsidiary, Drew Industries supplies a broad array of components for the leading manufacturers of recreational vehicles and manufactured homes, and to adjacent industries and had 2015 revenues of $1.4 billion.
Third Finalist: Angie's List, Inc., based in Indianapolis. The company is a resource for consumers looking to find the best local service providers in more than 720 categories, like home repair, health care and auto service. 2015 revenues were $344 million for the company, which boasts more than 3 million members researching, hiring and reviewing service providers.
Fourth Finalist: Thor Industries, headquartered in Elkhart, is the sole owner of operating subsidiaries that, combined, represent one of the world’s largest manufacturers of RVs. Since it went public in 1984, Thor has grown both organically and through strategic acquisitions. Thor's 2015 revenues were more than $4 billion.
Fifth Finalist: Wabash National Corporation, based in Lafayette, is a growing, diversified industrial manufacturer and North America’s leading producer of semi-trailers and liquid transportation systems. Its revenues were $2 billion in 2015.
The remainder of the Top Ten Performers recognized Thursday were:
Kimball International, Inc., Jasper, which provides furnishing solutions for workplace, learning, healing and hospitality environments through its Kimball Office, National Office Furniture and Kimball Hospitality brands.
KAR Auction Services, Inc., Carmel, which operates worldwide vehicle auction services and provides related services that offer support, technology and logistics for the used vehicle industry.
Simon Property Group, Inc., Indianapolis, is a global leader in retail real estate ownership, management and development and an S&P100 company.
First Internet Bancorp, Fishers, the parent of a full-service financial institution which opened its virtual doors in 1999 and provides a full range of banking products and services to consumer and commercial customers.
Berry Plastics Group, Inc., Evansville, a leading global manufacturer and marketer of value-added plastic consumer packaging and engineered materials.
Additional information about the Grand Award Winner and Top Ten Performers is available at the Indiana Public Company of the Year home page at www.invest-ind.com/topcompanies.html.
The CFA Society Indianapolis and Financial Executives International - Indianapolis were involved in the Indiana Company of the Year awards process. The metrics used to determine the Top Ten Performers were developed in 2015 by the Louisville CFA and FEI chapters for the Kentucky public company competition.
Crowe Horwath LLP, the public accounting, consulting and technology firm, and the law firm Ice Miller LLP are the event's title sponsors. RR Donnelley, Hays Companies, Markey's Rental & Staging, Hilliard Lyons, Mergermarket, Pro Communications, Wall Street Calendar, Wall Street Transcript and Mozaic Investor Relations are supporting sponsors. Information about the event is available from the #INVESTIndiana website.