Gun maker Smith & Wesson Brands Inc. will relocate its headquarters to Tennessee next year due to proposed firearms legislation in its home state
of Massachusetts.
The legislation, if enacted, would prevent Smith & Wesson from
manufacturing products that accounted for more than 60% of its revenue
last year.
"These bills would prevent Smith & Wesson from manufacturing firearms that are legal in almost every state in America and that are safely used by
tens of millions of law-abiding citizens every day exercising their Constitutional 2nd Amendment rights," Smith & Wesson CEO Mark Smith said
in a statement.
Smith & Wesson has been located in Springfield, Massachusetts, since being incorporated in 1852. That facility will remain operational, but others in Connecticut and Missouri will close as part of the consolidation.
Upward of 750 jobs will move from those facilities to the new headquarters
in Maryville, Tennessee. Employees who cannot make the move will be
offered enhanced severance and job placement services.
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"This has been an extremely difficult and emotional decision for us, but after an exhaustive and thorough analysis, for the continued health and strength of our iconic company, we feel that we have been left with no
other alternative," Smith said.
https://www.foxbusiness.com/markets/smith-wesson-headquarters-tennessee- gun-legislation
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