Smith & Wesson Moving HQ to Tennessee

FPrice · Sep 30, 2021

Was not sure WHERE to put this, and had not seen anything about it here so far. Hopefully I am not repeating other posts. Many of us in Massachusetts have been suggesting something like this for years.

Gun Maker Smith & Wesson to Move Headquarters to Tennessee
Decision follows other gun manufacturers’ relocation to Southern states

"Gun maker Smith & Wesson Brands Inc. SWBI -0.79% is moving its corporate headquarters from Massachusetts to Tennessee, joining other firearms manufacturers that have moved from the mid-Atlantic and Northeast to Southern states with less restrictive gun laws.

The company will invest more than $125 million to relocate its headquarters and some operations from Springfield, Mass., where it has been based for generations, to Blount County, Tenn., near Knoxville. It will create 750 jobs in the area, according to the Tennessee Department of Economic & Community Development.

The lower cost of living was a factor in the move, Chief Executive Mark Smith said in a statement. He thanked Republican Gov. Bill Lee and the GOP-dominated legislature “for their unwavering support of the Second Amendment and for creating a welcoming, business-friendly environment.”"

Gun Maker Smith & Wesson to Move Headquarters to Tennessee - WSJ

LittleCooner · Sep 30, 2021

Smith and Wesson moving to East Tennessee

Smith & Wesson to Relocate Headquarters to Tennessee

They are beginning to move to the south. Maryville Tennessee will be the new home for Smith and Wesson in a few years.

Welcome to the beautiful Appalachian Mountains, guys.

scott1970 · Sep 30, 2021

Good for them.

LoboGunLeather · Sep 30, 2021

The anti-gun government of Taxachussetts is probably happy about that.

Truckman · Sep 30, 2021

I find this move very appropriate in a personal way, as my direct ancestors from my Mom's side of the family, the Beanes, spawned the very first dynasty of gunmakers in Tennessee, circa 1775...Now a descendant of that family (namely me) has become a burgeoning accumulator of the product of another established gunmaking family dynasty, the Wesson brood who have come home to roost in Tennessee...

Karma happens, and the legend marches on...

...Ben

Targets Guy · Sep 30, 2021

Wait till Californians move into the state and alter it forever. Witness Oregon, Idaha, Montana. They are moving east.

The Norseman · Sep 30, 2021

South & West

I believe this is a very good move for S&W. This is
probably a promising sign for Stockholders too.

Now S&W needs to slowly move it's manufacturing
to friendly State's. Examples would be Weatherby
to Wyoming and Stag Arms to Wyoming.

Thanks for posting this partially good News.

Greyman50 · Sep 30, 2021

Area around Knoxville is nice but good luck finding a decent home to buy.

H Richard · Sep 30, 2021

Not surprising. Probably should have done it several years ago.

CB3 · Sep 30, 2021

Great decision. I hope manufacturing also leaves the state.

Moving any business is challenging, especially one with skilled workers. If years of accumulated wisdom do not follow to the new location, there can be a dip in production and quality while new folks are trained up.

Having been raised and having worked in New England, I personally would jump at the chance to move from Massachusetts to TN as a significantly better place to live. I imagine there will be financial incentives to do so for “key” employees.

Even moving manufacturing equipment and raw/finished inventory is done fairly straightforward today with good project planning and execution. I was with Barnes Bullets when we moved 40 miles to a new building. All of our heavy machinery (12-stage WWII .50 cal bullet presses) and machine shop CNC equipment were moved and operational in a week.

Good on TN folks for grabbing another old dowager from the north (or California) and infusing new life for a business and people.

GB · Sep 30, 2021

Just saw this on my news feed. Good news for Tn. And a whack in the billfold for MASS.

Ivan the Butcher · Sep 30, 2021

Targets Guy said:
Wait till Californians move into the state and alter it forever. Witness Oregon, Idaha, Montana. They are moving east.

This is sort of what tried to happen to Columbus, Ohio.

Borden (Elsie the Cow) moved their headquarters to Columbus in late 70's or early 80's. The flood of Easterners and their obnoxious habits demanded all matter of changes to our culture. They wanted more live theater, Opera, and Orchestra (we had these already, but they weren't good enough) And demanded tax issues to pay for it. Those issues fail by close to 90% three years in a row!

Somebody must of had a heart to heart with them and said, This is where you are at, and this is what Ohio is like. After 4 or so years we had no more nonsense from them.

All I can say is, Stand firm Tennessee!

Ivan

sheepdawg · Sep 30, 2021

Targets Guy said:
Wait till Californians move into the state and alter it forever. Witness Oregon, Idaha, Montana. They are moving east.

The Californians won't make it past Memphis.

Jim Watson · Sep 30, 2021

Press release here, read what S&W has to say:
Smith & Wesson to Relocate Headquarters to Tennessee

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."

Greyman50 · Sep 30, 2021

Florida has to deal with lots of move ins, the Sheriff in Lakeland told it best, look it up, LOL.

Philadelphia Patriot · Sep 30, 2021

Good! They should have did it years ago.

robertrwalsh · Sep 30, 2021

Good for them. No reason they should enrich a state that hates them and hates their product. Should have done it years ago.

Jim Kuykendall · Sep 30, 2021

Unless I misread the press release, S&W will keep revolver production in Mass. No explanation was given for this statement. Could someone give us a reason for not moving this production?

Ivan the Butcher · Sep 30, 2021

Jim Kuykendall said:
Unless I misread the press release, S&W will keep revolver production in Mass. No explanation was given for this statement. Could someone give us a reason for not moving this production?

Just a guess: Revolver production requires specific talents that are not as necessary in plastic wonders. The older workforce that has these talents is less willing to relocate.

Ivan

PatriotX · Sep 30, 2021

Jim Kuykendall said:
Unless I misread the press release, S&W will keep revolver production in Mass. No explanation was given for this statement. Could someone give us a reason for not moving this production?

From reading the article, I interpreted that the long gun and high-capacity semiauto mfg may have been facing unfavorable upcoming legislation, precipitating the move.

Please note that Missouri will also lose jobs as part of this change.

Smith & Wesson Moving HQ to Tennessee

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