Smith & Wesson, which has been based in Springfield, Massachusetts since the company was incorporated in 1852, has announced that it is moving its headquarters and significant elements of its operations to Maryville, Tennessee in 2023. According to the press release, a significant portion of this decision is based on the changing business climate for firearms manufacturing in Massachusetts.
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.”
Hopefully as anti-firearm legislation continues to impact the economies and employment landscape of blue states, politicians will reign in their overreach. Best of luck to Smith & Wesson on the move.