Smith & Wesson moves its headquarters from Mass. after Tenn.

Smith & Wesson, one of the country’s oldest weapons manufacturers, announced plans on Thursday to move its headquarters out of Massachusetts. The company has been based in Springfield since 1852. In an announcement, Smith & Wesson executives said they “feel we have no other alternative” given the bill that would ban the manufacture of certain firearms in Massachusetts. “These bills would prevent Smith & Wesson from making firearms that are legal in almost every state and that are safely used every day by tens of millions of law-abiding citizens to exercise their Amendment II rights to protect themselves and their families , and having fun in the sport of shooting, “said Mark Smith, President and CEO of Smith & Wesson, in a statement. One of the proposals Smith is likely to be referring to is SD.2588, which allows for the partial or total manufacture of” any offensive weapon or weapon large feeder “for sale to consumers.” While we hope this arbitrary and harmful legislation will be defeated at this session, these products accounted for over 60% of our sales last year, and the unfortunate likelihood that such restrictions will increase again led to a review of the best way forward for Smith & Wesson, “said Smith. The company plans to relocate 750 jobs and its headquarters to Maryville, Tennessee. Thursday’s announcement suggests the move will begin in 2023 and that the process will also close facilities in Connecticut and Missouri. After the move is complete, over 1,000 Springfield jobs will remain in a newly configured facility, according to Smith & Wesson. These jobs will focus on forging, machining, and assembling turrets. The new Tennessee facility will include the company’s headquarters, plastic injection molding, distribution and assembly of pistols and rifles. Tennessee was selected based on factors such as the cost of living, a convenient location for distribution, and “support for the 2nd amendment.” “We are deeply saddened by the impact this difficult decision will have on so many of our dedicated employees, but in order to preserve future jobs and ensure the long-term viability of our company, we have no choice but to relocate these functions to a state that does not propose any burdensome restrictions on our company. ” Smith said. A facility in Maine will not be affected by the plan, the company said. The company’s stock jumped at the start of trading on Thursday but was down sharply around 10 a.m.

Smith & Wesson, one of the country’s oldest weapons manufacturers, announced plans on Thursday to move its headquarters out of Massachusetts. The company has been based in Springfield since 1852.

In an announcement, Smith & Wesson executives said they “feel we have no other alternative” given the bill that would ban the manufacture of certain firearms in Massachusetts.

“These bills would prevent Smith & Wesson from making firearms that are legal in almost every state in America and that are safely used every day by tens of millions of law-abiding citizens to exercise their Amendment II rights to protect themselves and their families , and enjoy shooting, “said Mark Smith, President and CEO of Smith & Wesson, in a statement.

One of the proposals Smith is likely to be referring to is SD.2588, which would prohibit the manufacture, in whole or in part, of “any assault weapon or large delivery device” for sale to consumers.

“While we hope this arbitrary and harmful legislation will be defeated at this meeting, these products accounted for over 60% of our sales last year, and the unfortunate likelihood of such restrictions being increased again led to a best-way review up front for Smith & Wesson, “said Smith.

The company plans to relocate 750 jobs and its headquarters to Maryville, Tennessee. Thursday’s announcement suggests the move will begin in 2023 and that the process will also close facilities in Connecticut and Missouri.

After the move is complete, over 1,000 Springfield jobs will remain in a newly configured facility, according to Smith & Wesson. These jobs will focus on forging, machining, and assembling turrets.

The new Tennessee facility will include the company’s headquarters, plastic injection molding, distribution and assembly of pistols and rifles. Tennessee was selected based on factors such as the cost of living, a convenient location for distribution, and “support for the 2nd amendment.”

“We are deeply saddened by the impact this difficult decision will have on so many of our dedicated employees, but in order to preserve future jobs and ensure the long-term viability of our company, we have no choice but to relocate these functions to a state that does not propose any burdensome restrictions on our company. ” said blacksmith.

A facility in Maine is not affected by the plan, the company said.

The company’s stock jumped at the start of trading on Thursday but was down sharply around 10 a.m.

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