Economic Update Luncheon brings business leaders together in Elkhart

ELKHART, Ind. (WNDU) – Some of Elkhart’s top business leaders gathered on Wednesday to break bread.

The Greater Elkhart Chamber of Commerce held its annual Economic Update Luncheon at the Lerner Theatre.

Around 200 people came together to discuss Elkhart’s economy.

“I think there’s a lot of optimism and hope that things continue to get better,” said Kurt Janowsky, CEO of Navarre Hospitality Group. “Obviously, our economy and Elkhart is highly sensitive to the cycles in the RV business. That’s been gradually ticking up, right? We know a couple of years ago it softened up and now it’s just gradually ticked up, but I think it’s been stable and I think that there’s a lot of optimism, and in that business. And in Elkhart when the RV business is good, we’re all doing well.”

Keynotes from a panel focused on the county housing market, retail trends, and the hospitality industry, as those topics are some of the key indicators of the health of our local economy.

“We’ve seen in this area as we are very reliant as a court business sector in the outdoor space is particularly RVs and boating, pontoon boats, and the last year and a half or so we have seen the numbers drop off of the record years that we’ve had, and it’s just during in the space of correction right now,” said Levon Johnson, president/CEO of the Greater Elkhart Chamber Of Commerce, “And trying to get back to a baseline that will allow them to continue to grow hopefully with a regular 2 to 3% growth annually, but they’ve got to get back there. And so, as they adjust that means, the economy in this region has to adjust as well.”

Optimism was a term used by many officials at Wednesday’s luncheon.

“Kind of the theme for today is the economy remains really resilient, and that’s good thing for all of us, frankly,” said Fifth Third Bank, Chief Investment Strategist Tom Jalics. “The U.S. economy is driven by consumer spending. About 68% of U.S. GDP or gross domestic product is driven by people like you and me that have jobs and earn wages and spend those wages, so everything about the jobs market is really really important to the U.S. economy.

“Right now, the job market is strong,” he added. “We’ve got an unemployment rate that’s about 90% lower than most of the readings since World War II, and we’re adding about 170,000 jobs every single month to payroll. That’s gonna keep the spending going, and that’s gonna keep the economy going.”

Other panelists at Wednesday’s luncheon included Lori Snyder, managing broker for Elkhart & Goshen Berkshire Hathaway HomeServices, and Danny Reynolds, president/owner of Stephenson’s of Elkhart.

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