Mark Smith, CEO of Smith & Wesson, “had enough” of Massachusetts, reports the washington post. At the head of largest arms manufacturer in the United States, established in Springfield, Massachusetts (northeastern United States) since 1860, “he found himself in a state where lawmakers were debating whether to ban the manufacture of semi-automatic rifles of the AR-15 type for the civilian market”.
A measure likely to deprive his firm of juicy profits, “since 60% of the manufacturer’s income comes from the sale of semi-automatic weapons”, recalls the daily newspaper of the federal capital. So, after careful consideration, Mark Smith decided to move Smith & Wesson’s headquarters to Tennessee.
A new economic geography
He is far from the only CEO to have opted for the move, since according to the washington postin the past ten years, more than twenty manufacturers of weapons, ammunition and firearm accessories have moved the headquarters.