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 .
Thu Jun 6, 2019
Author: RV News Staff
Next Sparc has acquired Way Interglobal Network, an RV import distributor that offers an alternative to larger suppliers.
Way distributes proprietary brands, such as Everchill refrigerators, Greystone fireplaces and appliances, and Drive audio and entertainment systems.It’s an authorized distributor of LG Appliances, Hisense TVs and appliances, and RCA TVs.
“Over the course of 10 years, we’ve grown exponentially with 20-plus percent growth the last three years. And, obviously, product innovation has been the driver of it,” CEO Wayne Kaylor said.
The 12-volt compressor refrigerator not only accelerated Way’s growth but also transformed part of the industry, he said. The refrigerator allows batteries that continuously recharge with solar hookups to efficiently provide enough energy to cool the inside.
“It really has changed the industry dynamic,” Kaylor said. “Over the last three years, we have grown from zero units to over 70,000 this year.”
Way has research and development and distribution offices in Elkhart, Indiana. It also has research and development, manufacturing, and sourcing offices in Dongguan, China.
The company’s research has led to the development of more proprietary products. Most recently, it introduced a new line of gas ranges with eight patents pending. A new generation of the product is expected to come out the fourth quarter of 2019.
“RV buyers are looking for residential features in their home away from home,” Kaylor said.
The ranges are 25 percent larger, he said. They indicate time and temperature, have electronic igniters for each burner, and come with new safety features, such as red LEDs that light up when a burner is on.
“Way has demonstrated an unparalleled ability to develop and deliver innovative products and provide service to the OEM market that the larger OE suppliers can’t match,” Next Sparc Chairman and CEO Len Pagon said.
The private capital group has established an expanded banking relationship and is investing money to support Way as it comes up with new products to support future growth, he said.
“Next Sparc is excited,” Pagon continued. “We see significant opportunity, to partner with Kaylor and a very seasoned Way leadership team (to) continue growth through innovation and build a scaleable, world class infrastructure.”