Company Highlight: RAE Corporation
05/22/2018
Manufacturing has long played an integral role in the American economy. It creates a wealth of stable, well-paying jobs, supporting communities on the local level and contributing to national economic strength. American manufacturing has maintained a steady reputation for top-quality products, which contributes to the industry’s economic strength.
One example of such a manufacturing company that exemplifies this positive role is RAE Corporation, a family-owned HVAC and refrigeration equipment manufacturer located in MidAmerica Industrial Park. The company’s history and the strong influence it has on its local community help to demonstrate why manufacturing is such a critical part of the American economy.
MidAmerica Industrial Park’s RAE Corporation has been in business since 1971 and a part of MAIP since that time.
It was through Jim Swank’s original Vision of Excellence that RAE Corporation became a reality. The family-owned and privately held company manufactures air-conditioning and refrigeration equipment for commercial and industrial markets all over the world. Today, RAE Corporation has grown to over 300 employees and has been recognized as a Champion in Workplace Development.
In 2000, Jim officially retired, handing the reins and title of President and CEO over to his son Eric Swank. Now in the 17th year of his leadership.
“Through so much hard work, sacrifice, good decision making and building critical relationships, my dad and his business partners were successful. Now, the current company employees and management benefit from what was built by the generation before us, and we continue to build our success for future generations,” said Eric Swank, President & CEO of RAE Corporation.
The company, which currently employs about 300 people, is still focused on designing and providing custom solutions to customers, providing value based on each customer’s unique needs. Fulfilling that place in the market requires constant adaptation in response to customers’ needs, Swank said, and also relies on the company management balancing taking risks and finding new opportunities with making financially responsible decisions. Also weighing into that balance has been a consistent commitment to keeping jobs within the U.S., rather than moving work overseas.
“Management has been able to grow the company by responding directly to the needs of the industry and designing the highest-quality products to meet those needs,” Swank said.
Year after year RAE has seen continuous growth in both sales and employment. In 2015 and 2016, RAE increased sales revenue, by nearly 10 million dollars each year. Staffing levels grew by 17% in 2016 and nearly 30% in 2017 with heavy emphasis being put on building next-level leaders and better training.
With a new logo and building improvements rolled out in 2017, RAE is looking forward to more growth and working with other companies in the MAIP to positively impact our community.
