Smith & Wesson Brands, Inc. announced it is moving its headquarters and areas of operations to Maryville, TN in 2023. Smith & Wesson has been based in Springfield, MA since 1852.
Mark Smith, president and CEO, 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.”
Smith indicated that the company vetted several cities and states and, after careful consideration, made the decision to relocate 750 jobs and its headquarters to Maryville, TN. The key factors for its decision included:
- Support for the 2nd Amendment
- Business-friendly environment
- Quality of life for employees
- Cost of living and affordability
- Access to higher education
- Availability of qualified labor for its operations and headquarter functions
- Favorable location for efficiency of distribution
Smith continued, “The strong support we have received from the State of Tennessee and the entire leadership of Blount County throughout this process, combined with the quality of life, outdoor lifestyle, and low cost of living in the Greater Knoxville area has left no doubt that Tennessee is the ideal location for Smith & Wesson’s new headquarters. We would like to specifically thank Governor Lee for his decisive contributions and the entire state legislature for their unwavering support of the 2nd Amendment and for creating a welcoming, business-friendly environment.”
Smith & Wesson will also close facilities in Connecticut and Missouri as part of its consolidation in Tennessee. This process will result in the company reducing the number of locations it maintains from four to three and will streamline its manufacturing and distribution operations. The company emphasized that the move will not begin until 2023 and will not have an impact on employees’ jobs until that time.
“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,” Smith said. “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.”
All employees whose jobs are moved will be given these offers.
Photo courtesy Smith & Wesson/AP