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Posted on 09/30/2021 8:51:48 AM PDT by re_tail20
Smith & Wesson Brands, Inc. (NASDAQ Global Select: SWBI), one of the nation's oldest firearms manufacturers, announced today that it is moving its headquarters and significant elements of its operations to Maryville, Tennessee in 2023. Smith & Wesson has been based in Springfield, Massachusetts since the company was incorporated in 1852.
Mark Smith, President and Chief Executive Officer, said "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." He specifically cited legislation recently proposed in Massachusetts that, if enacted, would prohibit the company from manufacturing certain firearms in the state. "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, protecting themselves and their families, and enjoying the shooting sports. While we are hopeful that this arbitrary and damaging legislation will be defeated in this session, these products made up over 60% of our revenue last year, and the unfortunate likelihood that such restrictions would be raised again led to a review of the best path forward for Smith & Wesson."
Smith indicated that the company vetted a number of cities and states and, after careful consideration, made the decision to relocate 750 jobs and its headquarters to Maryville, Tennessee. The key factors in the decision included the following:
Support for the 2nd Amendment
Business friendly environment
Quality of life for employees
Cost of living and affordability
Access to higher education institutions
Availability of qualified labor for its operations and headquarter functions
Favorable location for efficiency of distribution
Smith continued, "The...
(Excerpt) Read more at finance.yahoo.com ...
Is Tennessee a “right to work” state?
About time!
Good for TN.
I’m in Dallas. Seems like half of California, part of New York and Illinois have moved here. Hahaha
Ping. A sign of the times.
This Ping List is for all things pertaining to infringes upon or victories for the 2nd Amendment.
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Tennessee is very much a “Right to Work” state.
So what happens when the leftists figure out that people and companies moving out means less tax money?
What specifically is MA trying to ban the manufacturing of?
“I’m in Dallas. Seems like half of California, part of New York and Illinois have moved here. Hahaha”
You won’t be laughing in 10-20 years when you see what those emigres do to your state.
Sooo, Massachusetts just got canceled???
Raise taxes on those remaining, of course. And whimper to Democrat feds about a subsidy.
“So what happens when the leftists figure out that people and companies moving out means less tax money?”
Leftists celebrate news such as this. They REALLY do.
I guess they think the can finance their programs with air, oh wait, you can just print more money! No problem
You’re laughing now.
Ping
If I read the article right, Smith will continue to have over 1,000 employees in Massachusetts going forward.
It will be interesting to see if this Blue hate-state legislature will retaliate with punitive legislation and drive out the rest of Smith.
I hope they do and that another Red state will get the jobs and money. Congratulations to Tennessee for despoiling the enemy camp.
If history is a guide, it means they double the taxes on those who remain.
[Verse 1]
Everywhere is
Freaks and hairies
Dykes and fairies
Tell me, where is sanity?
[Verse 2]
Tax the rich
Feed the poor
Till there are no
Rich no more
Now that trade is all but a memory thanks to the efforts of the moonbats that continually get elected in these states, the latest being that angry dyke, Maura Healey, my state's attorney general.
Great job, Maura, for driving another business out of Massachusetts.
Headquarters ... does that include manufacturing or is the manufacturing done all over the world?
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