Gun manufacturer Smith & Wesson announced Thursday that it will move its corporate headquarters from Springfield, Massachusetts, to Tennessee.
Other firearm manufacturers have moved away from the northeast and mid-Atlantic area in an attempt to escape restrictive gun laws.
Gun maker Smith & Wesson is moving its corporate headquarters from Massachusetts to Tennessee, joining other firearms manufacturers that have moved to Southern states with less restrictive gun laws https://t.co/Vb6YehKbg0
— The Wall Street Journal (@WSJ) September 30, 2021
The company will be relocating to Blount County, Tennessee, creating 750 new jobs and investing more than $125 million in the move. (RELATED: Another Firearms Business Leaves New York)
The company cited seven “key factors” for the move, including “support for the 2nd Amendment” and “quality of life for employees” in a news release. Smith thanked Republican Tennessee Gov. Bill Lee and the state’s legislature “for their unwavering support of the Second Amendment and for creating a welcoming, business-friendly environment.”
Proposed legislation in Massachusetts would prohibit the production of certain firearms, according to the company’s news release. The firearms affected by the legislation accounted for over 60% of the company’s revenue in 2020.
“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 in a news release.
Springfield, Massachusetts, will be losing approximately 550 jobs as a result of the move according to Springfield Mayor Domenic Sarno, The Wall Street Journal reported.