The Remington Firearms Company has seen a rollercoaster of moves, acquisitions, divesting and reorganization over the last year and it seems that the legendary firearms manufacturer isn’t done moving and shaking yet. The company announced on November 8th that it would be investing $100,000,000 into a new headquarters and research operation based out of LaGrange, Georgia, and will be hiring 856 people in the process over a 5-year timescale. Whether Remington Firearms invests in a new manufacturing line or is simply moving their HQ for tax benefits is unclear at this time.
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Remington Firearms Invests $100M to Move from New York to Georgia
Now owned by Roundhill Group LLC, Remington has seen a lot of reorganization in order to bring the company up to scratch in terms of manufacturing capability, and profitability. Aside from the political implications that being a firearms manufacturer in New York imply, Remington has found that local benefits in the Atlanta Georgia area would allow the company to move its headquarters, as well as a brand new research operation to the area.
We are very excited to come to Georgia, a state that not only welcomes business but enthusiastically supports and welcomes companies in the firearms industry.”
- Remington CEO Ken D’Arcy
It is unclear at the time of writing how the headquarters move from New York to Georgia will affect the current operation in Ilion, however, one has to consider that Remington only recently restarted manufacturing operations by calling back over 200 workers who had been laid off. In addition, the state of New York has offered Remington 10-year’s worth of tax breaks in order to restart operations in Ilion and upgrade their facilities.
Remington’s new operation in Georgia will include several new facilities as well as some renovated facilities with local governments offering utility and infrastructure improvements as well as property tax abatements making this a very lucrative deal for the company.