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 .
Tue Oct 11, 2016
CHICAGO - Equity LifeStyle Properties, Inc. has reported its preliminary assessment of the impact of Hurricane Matthew on its Florida properties and those in coastal North and South Carolina.
No injuries to the proerties' residents, guests or employees have been reported. The company has a total of 30 properties (19 manufactured home communities and 11 RV resorts) that were within Hurricane Matthew’s trajectory. Property damage losses at those properties are preliminarily estimated to total less than $750,000. The bulk of those losses are expected to be related to removal of damaged trees and debris cleanup. Consistent with prior storm events, newer homes held up well during the hurricane.
The company is working to quickly return affected properties to full operating condition. Currently, three manufactured home communities and four RV resorts are without electricity as a result of the hurricane. The company does not yet have an estimate for business interruption losses, but they are expected to be relatively limited.
The company believes that it has adequate insurance subject to deductibles, including business interruption coverage. The company does not believe that the storm will have a material impact on its financial condition or operating results, according to a press release.
“Above all, we are grateful that there have not been any reported deaths or injuries to our residents, guests or employees," President and CEO Marguerite Nader says. "Our operations teams in Florida and the Carolinas have exhibited incredible efforts in preparing for and reacting to the effects of Hurricane Matthew, including assisting our customers.”