{"id":31584,"date":"2021-09-30T14:44:12","date_gmt":"2021-09-30T14:44:12","guid":{"rendered":"https:\/\/onlygunsandmoney.com\/?p=31584"},"modified":"2021-09-30T14:44:16","modified_gmt":"2021-09-30T14:44:16","slug":"goodbye-massachusetts-hello-tennessee","status":"publish","type":"post","link":"https:\/\/onlygunsandmoney.com\/?p=31584","title":{"rendered":"Goodbye Massachusetts; Hello Tennessee!"},"content":{"rendered":"<div class='__iawmlf-post-loop-links' style='display:none;' data-iawmlf-post-links='[{&quot;id&quot;:3511,&quot;href&quot;:&quot;https:\\\/\\\/www.news-journalonline.com\\\/story\\\/business\\\/real-estate\\\/2020\\\/09\\\/15\\\/gun-manufacturer-sccy-firearms-to-close-tennessee-plant-to-expand-in-daytona-beach-instead\\\/5799316002&quot;,&quot;archived_href&quot;:&quot;https:\\\/\\\/web-wp.archive.org\\\/web\\\/20210728011900\\\/https:\\\/\\\/www.news-journalonline.com\\\/story\\\/business\\\/real-estate\\\/2020\\\/09\\\/15\\\/gun-manufacturer-sccy-firearms-to-close-tennessee-plant-to-expand-in-daytona-beach-instead\\\/5799316002\\\/&quot;,&quot;redirect_href&quot;:&quot;&quot;,&quot;checks&quot;:[{&quot;date&quot;:&quot;2026-04-16 14:02:05&quot;,&quot;http_code&quot;:503},{&quot;date&quot;:&quot;2026-04-23 06:27:07&quot;,&quot;http_code&quot;:200}],&quot;broken&quot;:false,&quot;last_checked&quot;:{&quot;date&quot;:&quot;2026-04-23 06:27:07&quot;,&quot;http_code&quot;:200},&quot;process&quot;:&quot;done&quot;},{&quot;id&quot;:3512,&quot;href&quot;:&quot;https:\\\/\\\/ir.smith-wesson.com\\\/news-releases\\\/news-release-details\\\/smith-wesson-relocate-headquarters-tennessee&quot;,&quot;archived_href&quot;:&quot;https:\\\/\\\/web-wp.archive.org\\\/web\\\/20260206030758\\\/https:\\\/\\\/ir.smith-wesson.com\\\/news-releases\\\/news-release-details\\\/smith-wesson-relocate-headquarters-tennessee&quot;,&quot;redirect_href&quot;:&quot;&quot;,&quot;checks&quot;:[{&quot;date&quot;:&quot;2026-04-16 14:03:10&quot;,&quot;http_code&quot;:503},{&quot;date&quot;:&quot;2026-04-23 06:27:13&quot;,&quot;http_code&quot;:503}],&quot;broken&quot;:false,&quot;last_checked&quot;:{&quot;date&quot;:&quot;2026-04-23 06:27:13&quot;,&quot;http_code&quot;:503},&quot;process&quot;:&quot;done&quot;},{&quot;id&quot;:3513,&quot;href&quot;:&quot;https:\\\/\\\/mma.prnewswire.com\\\/media\\\/161009\\\/smith_and_wesson_logo.html&quot;,&quot;archived_href&quot;:&quot;&quot;,&quot;redirect_href&quot;:&quot;&quot;,&quot;checks&quot;:[],&quot;broken&quot;:false,&quot;last_checked&quot;:null,&quot;process&quot;:&quot;done&quot;}]'><\/div>\n<p>An alternate title could be &#8220;How to Drive A 165 Year Old Business Out of Your State in Order to Appear Woke&#8221;.<\/p>\n\n\n\n<p>What I&#8217;m referring to is the decision by Smith &amp; Wesson Brands, Inc. to relocate their headquarters and a significant part of their firearms manufacturing from Springfield, Massachusetts to Maryville, Tennessee. While they will have a number of jobs left in Massachusetts, they expect to have over 750 jobs in Maryville with employees relocating from their operation Massachusetts, Missouri, and Connecticut. The move comes due to proposed anti-gun legislation in Massachusetts.<\/p>\n\n\n\n<p>SCCY Firearms had <strong><a href=\"https:\/\/www.news-journalonline.com\/story\/business\/real-estate\/2020\/09\/15\/gun-manufacturer-sccy-firearms-to-close-tennessee-plant-to-expand-in-daytona-beach-instead\/5799316002\/\" target=\"_blank\" rel=\"noreferrer noopener\">proposed moving much of their operations to Maryville<\/a><\/strong> but last year decided to expand in Daytona Beach, Florida instead. They closed their Maryville plant. I wonder if S&amp;W will be using any part of that.<\/p>\n\n\n\n<p>As a resident on the other side of the Smokies, I say welcome to the Great Smoky Mountains. <\/p>\n\n\n\n<p><strong><a href=\"https:\/\/ir.smith-wesson.com\/news-releases\/news-release-details\/smith-wesson-relocate-headquarters-tennessee\" target=\"_blank\" rel=\"noreferrer noopener\">The full announcement is below:<\/a><\/strong><\/p>\n\n\n\n<p><em>SPRINGFIELD, Mass.,\u00a0Sept. 30, 2021<\/em>\u00a0\/PRNewswire\/ &#8212;\u00a0<em><strong>Smith &amp; Wesson Brands, Inc.\u00a0<\/strong>, one of the nation&#8217;s oldest firearms manufacturers, announced today that it is moving its headquarters and significant elements of its operations to\u00a0Maryville, Tennessee\u00a0in 2023.\u00a0\u00a0 Smith &amp; Wesson has been based in\u00a0Springfield, Massachusetts\u00a0since the company was incorporated in 1852.<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/161009\/smith_and_wesson_logo.jpg\" alt=\"Smith &amp; Wesson Logo (PRNewsFoto\/Smith &amp; Wesson)\" title=\"Smith &amp; Wesson Logo (PRNewsFoto\/Smith &amp; Wesson)\"\/><\/figure>\n\n\n\n<p><a href=\"https:\/\/mma.prnewswire.com\/media\/161009\/smith_and_wesson_logo.html\" target=\"_blank\" rel=\"noreferrer noopener\">&nbsp;&nbsp;&nbsp;<\/a><\/p>\n\n\n\n<p><em>Mark Smith, President and Chief Executive Officer, said &#8220;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.&#8221;\u00a0 He specifically cited legislation recently proposed in\u00a0Massachusetts\u00a0that, if enacted, would prohibit the company from manufacturing certain firearms in the state. &#8220;These bills would prevent Smith &amp; 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 2<sup>nd<\/sup>\u00a0Amendment 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 &amp; Wesson.&#8221;<\/em><\/p>\n\n\n\n<p><em>Smith indicated that the company vetted a number of cities and states and, after careful consideration, made the decision to relocate 750 jobs and its headquarters to\u00a0Maryville, Tennessee.\u00a0 The key factors in the decision included the following:<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><em>Support for the 2<sup>nd<\/sup>\u00a0Amendment<\/em><\/li><li><em>Business friendly environment<\/em><\/li><li><em>Quality of life for employees<\/em><\/li><li><em>Cost of living and affordability<\/em><\/li><li><em>Access to higher education institutions<\/em><\/li><li><em>Availability of qualified labor for its operations and headquarter functions<\/em><\/li><li><em>Favorable location for efficiency of distribution<\/em><\/li><\/ul>\n\n\n\n<p><em>Smith continued, &#8220;The strong support we have received from the\u00a0State of Tennessee\u00a0and the entire leadership of\u00a0Blount County\u00a0throughout this process, combined with the quality of life, outdoor lifestyle, and low cost of living in the\u00a0Greater Knoxville\u00a0area has left no doubt that\u00a0Tennessee\u00a0is the ideal location for Smith &amp; Wesson&#8217;s new headquarters. We would like to specifically thank\u00a0Governor Lee\u00a0for his decisive contributions and the entire state legislature for their unwavering support of the 2<sup>nd<\/sup>\u00a0Amendment and for creating a welcoming, business friendly environment.&#8221;<\/em><\/p>\n\n\n\n<p><em>Smith &amp; Wesson will also close facilities in\u00a0Connecticut\u00a0and\u00a0Missouri\u00a0as part of consolidating in\u00a0Tennessee. This process will result in the company reducing the number of locations it maintains from four to three and will significantly streamline its manufacturing and distribution operations.<\/em><\/p>\n\n\n\n<p><em>The company emphasized that the move will not begin until 2023 and will not have an impact on employees&#8217; jobs until then.\u00a0 &#8220;Our loyal employees are the reason for our success and are always our number one priority. We are deeply saddened by the impact that this difficult decision will have on so many of our dedicated employees, but in order to preserve future jobs and for the viability of our business in the long term, we are left with no choice but to relocate these functions to a state that does not propose burdensome restrictions on our company.&#8221; Smith said. &#8220;We are making this announcement now to ensure that each employee has the time to make the decision that is right for them and their families. We are firmly committed to working on an individual level with each and every one of those who will be affected. We will assist any affected employee who is willing and able to move with financial and logistical relocation assistance. However, we also fully realize that this is simply not feasible for some. Therefore, for any affected employee who cannot move with us, we will offer enhanced severance and job placement services. We understand that this announcement will be very difficult for our employees, and we will do everything we can to assist them during this transition,&#8221; Smith said.\u00a0All employees\u00a0whose jobs are moved will be given these offers.<\/em><\/p>\n\n\n\n<p><strong><em>Key Facts:<\/em><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><em>The facility in\u00a0Springfield, Massachusetts\u00a0will be reconfigured but will remain operational.<\/em><\/li><li><em>Smith &amp; Wesson will keep some of its manufacturing operations in\u00a0Springfield, Massachusetts, including all forging, machining, metal finishing, and assembly of revolvers, and will continue to have over 1,000 employees in the state.<\/em><\/li><li><em>The new facility will be built in\u00a0Maryville, Tennessee\u00a0and will comprise of the company&#8217;s headquarters, plastic injection molding, pistol and long gun assembly, and distribution.<\/em><\/li><li><em>Total investment in the project is estimated at\u00a0$120 million, will be funded from cash on hand, and is expected to be accretive to EPS by\u00a0$0.10\u00a0to\u00a0$0.12\u00a0per year once fully operational.<\/em><\/li><li><em>Construction in\u00a0Maryville, Tennessee\u00a0is expected to begin in the calendar fourth quarter of 2021 and be substantially complete by the summer of 2023.<\/em><\/li><li><em>Upwards of 750 jobs will move from\u00a0Springfield, Massachusetts;\u00a0Deep River, Connecticut; and\u00a0Columbia, Missouri\u00a0to\u00a0Maryville, Tennessee.<\/em><\/li><li><em>The company&#8217;s plastic injection molding facility in\u00a0Deep River, Connecticut, which services both Smith &amp; Wesson as well as a significant number of external customers, will be sold. The Smith &amp; Wesson portion of the operations will be moved to the new facility in\u00a0Maryville, Tennessee, however, the external customer business will remain in\u00a0Connecticut\u00a0and will be divested.<\/em><\/li><li><em>The company&#8217;s distribution operations in\u00a0Columbia, Missouri\u00a0will be moved to the new facility in\u00a0Maryville, Tennessee, and the\u00a0Columbia, Missouri\u00a0facility will be marketed for sublease.<\/em><\/li><li><em>The relocation will have no impact on the company&#8217;s operations in\u00a0Houlton, Maine.<\/em><\/li><\/ul>\n<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div>","protected":false},"excerpt":{"rendered":"<p>An alternate title could be &#8220;How to Drive A 165 Year Old Business Out of Your State in Order&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[1],"tags":[769,1591,685,2638,5650],"class_list":["post-31584","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-anti-gun-politicians","tag-maryville-tn","tag-massachusetts","tag-relocation","tag-smith-wesson"],"_links":{"self":[{"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/posts\/31584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31584"}],"version-history":[{"count":1,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/posts\/31584\/revisions"}],"predecessor-version":[{"id":31585,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/posts\/31584\/revisions\/31585"}],"wp:attachment":[{"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}