BOSTON (CBS) – Smith & Wesson, one of the nation’s oldest gun manufacturers, announced Thursday that it will move operations from Springfield, Massachusetts to Tennessee due to proposed gun laws in Massachusetts.
The company plans to move to Maryville, Tennessee, in 2023 after having its headquarters in Springfield since its founding in 1852.
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“This has been an extremely difficult and emotional decision for us, but after a thorough and comprehensive analysis, for the continued health and strength of our iconic company, we feel we are left with no alternative,” said President and CEO Mark. Smith. said.
Smith said the proposed legislation in Massachusetts would prevent the company from making certain types of weapons.
“These bills would prevent Smith & Wesson from manufacturing firearms that are legal in nearly every state in the United States and that are used safely by tens of millions of law-abiding citizens every day who exercise their constitutional rights. 2nd Amendment, protecting themselves and their families, and enjoying shooting sports, ”Smith said. “While we are hopeful that this arbitrary and harmful legislation will be rejected in this session, these products accounted for more than 60% of our revenue last year, and the unfortunate likelihood of such restrictions being raised again led to a review of the best way forward for Smith & Wesson. “
Smith said the company surveyed several cities before deciding to move its headquarters, which includes 750 jobs, to Maryville.
As part of the measure, Smith & Wesson will also close the Connecticut and Missouri facilities, consolidating the number of locations from four to three.