Rep. Culver: Federal Assistance will Invigorate Elkhart-area RV Industry
STATEHOUSE - A White House announcement will bring much-needed federal assistance to the Elkhart-area RV industry, Rep. Wes Culver (R-Goshen) said today.
Members of the White House and U.S. Small Business Administration on Thursday joined other Indiana lawmakers in endorsing a decision to open a major new source of credit for Indiana dealerships that sell RVs, cars, boats and manufactured homes. The SBA will be working with local banks and guaranteeing loans for dealerships to obtain inventory.
"The RV industry in Elkhart is among the hardest-hit in the nation," said Rep. Culver. "This is exactly the type of necessary action that will help refuel our area's suffering economy. RV manufacturers and dealerships alike will directly benefit from this plan. I'm grateful Indiana's needs are not going unnoticed at the federal level."
Indiana has approximately 228,000 residents employed in the RV industry who manufacture, sell and service America's camping vehicles. Since the recession began in 2007, approximately 53 percent of the RV industry workforce has been laid off, leading to roughly 120,000 job losses in Indiana.
"I believe lawmakers have done an excellent job configuring this plan," said Rep. Culver. "When dealers have the flexibility to purchase additional inventory, it has a dramatic effect down the line to the parts suppliers, manufacturers, the service industry and all those they employ. Ultimately it will be of great benefit to consumers and their families who will enjoy a great product created by an industry that has a great deal of Hoosier pride."