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Winnebago Ind. Boom Boosting Iowa Economy
Posted By RVBusiness On July 5, 2013 @ 12:20 pm In Breaking News | No Comments
It’s quiet along the assembly line at Winnebago Industries Inc., but looks can be deceiving.
KIMT TV reported that many of the employees are off for the holiday week, and it’s a well deserved break says Vice President of Sales and Products Scott Degnan, adding that
business has been running full throttle.
“Sales are doing well, we’re profitable. We just released our earnings for last quarter and they were phenomenal every one of our business units is growing,” said Degnan.
That wasn’t the case just years ago.
“In 2008 and 2009, the industry goes from about 70,000 units to a little of 10,000 units,” Degnan said. “I mean from 70 to 10 was a huge drop and we’re slowly been coming back.”
And the state’s tax collection growth number is showing that with nearly 9% in state tax revenue.
A senior analyst for the Legislative Services Agency in Iowa says that when numbers are up like this, it means the economy is doing quite well.
Lou Ann Murhpy, owner of a tax and business planning company in Osage, agrees.
“It’s a pretty low unemployment rate that means people are working and when people are working they pay taxes that the way it works,” said Murphy.
In the end, Murphy says this boom in growth is all around good news for businesses like Winnebago and Iowans themselves.
“That means that Iowa has more money to spend on services. It also means that they’re more likely to mean tax cuts in other ways that keep talking about property tax relief this gives them money to do that,” said Murphy.
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