Heartland Recreational Vehicles to Open New Manufacturing Facility in Nampa
Heartland Recreational Vehicles, a subsidiary of Thor Industries, (NYSE:THO), one of the world leaders in recreational vehicle manufacturing, has selected Nampa, Idaho as the location for its new manufacturing facility to produce the company’s popular Heartland line of travel trailers. Once completed, Heartland expects to use the manufacturing facility to expand production for West Coast markets.
The total estimated investment is approximately $11-12 million for the 248,000 square-foot facility located at 900 Karcher Road in Nampa. Heartland expects to employ approximately 120 new workers and begin production in the first quarter of calendar 2016.
“We are seeing significant growth of the recreational vehicle market, particularly in the West, so we realized the need for additional production to meet the strong demand from our dealers and consumers alike,” said Chris Hermon, President of Heartland. “As we sought a location to expand our manufacturing capabilities to meet that demand, the Boise Valley brought the perfect mix of location, quality of workforce and business friendly environment.”
The company plans to start with 120 full-time employees and is expected to grow to more than 275 employees within three years. The average yearly salary of $38,250 with full benefits is above the average wage for Canyon County. Jobs will include plant managers, assembly line technicians, electricians, plumbers, cabinetry makers and welders.
Led by the Boise Valley Economic Partnership and the City of Nampa, the regional effort to bring this opportunity to Heartland, a subsidiary of Thor Industries, included the Idaho Department of Commerce, Canyon County Commissioners, Idaho Department of Labor, and College of Western Idaho.
“Nampa has made great strides in cultivating a diversity of industries in our community,” said Nampa Mayor Bob Henry. “We’ve seen impressive growth in the food industry with global leaders like Materne opening its GoGo SqueeZ plant. We’re proud to welcome another leader to our region with Heartland RV and its new manufacturing and assembly facility making Nampa a hub of recreational vehicle production for the West Coast market.”
Heartland Recreational Vehicles is approved to receive a Tax Reimbursement Incentive credit of 20% for 10 years through Idaho’s TRI program. “The Tax Reimbursement Incentive has been a tremendous tool in helping us attract new business opportunities to the state, and we’re thrilled that Heartland Recreational Vehicles will be establishing a presence in Canyon County and growing the state’s vibrant recreation technology industry,” said Governor C.L. “Butch” Otter.
About Thor Industries, Inc.
Thor is the sole owner of operating subsidiaries that, combined, represent one of the world's largest manufacturers of recreational vehicles. This release includes certain statements that are “forward looking” statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward looking statements are made based on management’s current expectations and beliefs regarding future and anticipated developments and their effects upon Thor Industries, Inc., and inherently involve uncertainties and risks. These forward looking statements are not a guarantee of future performance. We cannot assure you that actual results will not differ from our expectations. Factors which could cause materially different results include, among others, raw material and commodity price fluctuations, material or chassis supply restrictions, legislative and regulatory developments, the costs of compliance with increased governmental regulation, legal issues, the potential impact of increased tax burdens on our dealers and retail consumers, lower consumer confidence and the level of discretionary consumer spending, interest rate fluctuations and the potential economic impact of rising interest rates, restrictive lending practices, management changes, the success of new product introductions, the pace of obtaining and producing at new production facilities, the pace of acquisitions, the potential loss of existing customers of acquisitions, the integration of new acquisitions, the impact of the divestiture of the Company’s bus business, the availability of delivery personnel, asset impairment charges, cost structure changes, competition, the potential impact of the strengthening of the U.S. dollar on international demand, general economic, market and political conditions and the other risks and uncertainties discussed more fully in ITEM 1A of our Annual Report on Form 10-K for the year ended July 31, 2015. We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained in this release or to reflect any change in our expectations after the date of this release or any change in events, conditions or circumstances on which any statement is based, except as required by law.
About Boise Valley Economic Partnership
The Boise Valley Economic Partnership (BVEP) is the regional economic development organization for the Boise Valley, representing the southwestern Idaho counties of Ada, Boise, Canyon, Gem and Owyhee, and including the capitol city of Boise. With a long-term mission of creating jobs, attracting new businesses to the region and encouraging investment in the community, BVEP is actively involved in the economic vitality of the Boise Valley, and is dedicated to maintaining and enhancing the quality of life for businesses and families alike. For more information, visit www.bvep.org