Magpul Leaves Colorado Due To New Gun Law
Gun accessories maker Magpul Industries is leaving Colorado. The company has decided to relocate its operation to Texas and Wyoming following Colorado state’s gun control legislation enactment last month. The gun control law includes restrictions on how many bullets can be loaded into a magazine.
Last year, following the Denver shootings, Gov. John Hickenlooper and the Democrat-led legislature enacted a law that prevents the sale of magazines with more than a 15-rounds capacity.
Magpul CEO, Richard Fitzpatrick, announced that the relocation was necessary for growth.
“Moving operations to locations that support our culture of individual liberties and personal responsibility is important,” Fitzpatrick said in a statement. “Moving to a true multi-state operation will also allow Magpul to utilize the strengths of both Texas and Wyoming as we continue to expand.”
The departure of Magpul will result in Colorado losing up to $85 million in economic contributions and about 400 people will be out of a job. Sources say the company plans to set up its manufacturing plant in Cheyenne, Wyoming whilst its headquarters will be in Texas. The company also plans to lease a 58,000 square foot building for a period of 2-3 years while they construct a 100,000 square foot building that will form part of the Cheyenne commercial facilities.
Wyoming governor, Matthew Mead welcomed the move saying Magpul and Wyoming are a great match. Gov. Mead said that Wyoming offers great tax environment to Magpul as well as a stable legislation environment.
The governor of Texas Rick Perry had earlier openly encouraged gun manufacturing companies to move their operations to more friendly states in February:
“You may choose to consider relocating your manufacturing operations to a state that is more business-friendly,” the governor wrote in a letter sent to a dozen gun manufacturing companies.
Magpul will not completely move out of Colorado, it will maintain limited operations in the state as it still has a significant number of clients there. Some 96% of its employees plan to relocate outside Colorado in the next 12-16 months.
Image via Wikipedia