BOSTON (CBS) – Smith & Wesson, one of the nation’s oldest firearms manufacturers, on Thursday announced it was moving its business from Springfield to Tennessee due to proposed gun laws in Massachusetts .
The company plans to relocate to Maryville, Tenn. In 2023, having been based in Springfield since its founding in 1852.
“This has been an extremely difficult and emotional decision for us, but after a comprehensive and thorough analysis, for the continued health and strength of our iconic company, we believe that we have no other alternative left,” said Mark Smith. , President and CEO. noted.
Smith said proposed Massachusetts legislation would prevent the company from manufacturing certain types of firearms.
“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, exercising their constitutional rights of the 2nd amendment, protecting themselves and their families, and enjoying shooting sports, ”Smith said. “While we hope that this arbitrary and damaging legislation will be rejected during this session, these products accounted for over 60% of our revenue last year, and the unfortunate likelihood that such restrictions will be lifted again has led to a review of the best way forward for Smith & Wesson.
Smith said the company controlled several cities before deciding to move its head office, which includes 750 jobs, to Maryville.
As part of the move, Smith & Wesson will also close facilities in Connecticut and Missouri, consolidating the number of sites from four to three.