Colt Firearms Threatens to Leave Connecticut over Strict Gun Laws
by Warner Todd Huston
Colt Manufacturing is considering a move out of Connecticut after 175 years in business due to the new gun bans being mulled by the state legislature and Democrat Governor Dannel Malloy.
Colt President and CEO Dennis Veilleux published an op ed in the Hartford Currant asking why it makes any sense that Colt Manufacturing stay in Connecticut.
[quote]Now Gov. Dannel P. Malloy says that with or without bipartisan consensus, he intends to ban this rifle. But a ban of the most popular semiautomatic rifle in the United States for what are essentially cosmetic reasons would make no one safer and punish a vital Connecticut industry.
As a result Colt, as well as other Connecticut manufacturers such as Mossberg and Stag Arms will see immediate erosion in brand strength and market share as customers migrate to manufacturers in more supportive states. This will have consequences for dozens of Connecticut companies and thousands of workers. Connecticut will have put its firearms manufacturing industry in jeopardy: one that contributes $1.7 billion annually to the state’s economy.
No doubt more than a few states would welcome these fugitive pariahs Gov. Malloy deems unworthy of operating in CN and employing its citizens. And if the State of CN’s “take” on that $1.7B is 10%, CN citizens and businesses will have to make up that $170M through increased taxes - the State of CN won’t decrease spending, for heaven’s sake!