Eight companies headquartered in Indiana made Fortune magazine’s updated list of the 500 businesses with the most revenue in the U.S.
This story by Andrew Clark originally appeared in the IndyStar.
Thor Industries jumped from No. 540 in 2017 to No. 392 in 2018, cracking the list for the first time this year. Fortune says the company has surpassed $7.2 billion in revenues, and that its profits have increased by more than 58 percent year over year.
Elkhart’s economy relies almost entirely on the RV industry, with nearly 90 percent of RVs built there. And right now, the RV business is booming – manufacturers last year shipped a record 504,600 RVs, an increase of 17.2 percent. That boom has also caused Elkhart’s unemployment rate to plunge to an absurdly low 2.2 percent.
Another RV-related, Indiana-headquartered company to rank on the list was Cummins (149th place) with $20.4 billion in revenues.