Gun maker
Smith & Wesson Brands Inc.
SWBI -2.00%
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.”
The company didn’t respond to emails seeking further comment.
Springfield Mayor Domenic Sarno said in a statement the city will be losing 550 jobs, which he described as devastating news for the families involved. City officials would work with the company to try to retain about 1,000 remaining jobs, he said.
The company will keep some production in Springfield, according to a person familiar with the move.
Horace Smith and Daniel Wesson founded their company in the 1850s in New England. Smith & Wesson, which eventually was based in Springfield, has made some of the most well-known firearms in American history, including the Smith & Wesson Model 29, known as the .44 Magnum. The company has supplied firearms and other equipment to the military and numerous police departments.
Smith & Wesson plans to break ground on the new headquarters by the end of the year.
The company’s announcement comes after a period of record gun sales in the U.S. during the Covid-19 pandemic, widespread civil unrest in 2020 and a surge in violence in many cities.
—Zusha Elinson contributed to this article.
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Write to Cameron McWhirter at [email protected]
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