States that have adopted gun control are now, in addition to killing the freedom to which Americans have grown accustomed, killing jobs. More than simply being bad public-safety-policy, gun control is shaping up to be bad economic policy. Beretta has announced that they will be moving their Maryland manufacturing facility to a state more amicable to firearm production. In an open letter, the CEO of the world famous firearm manufacturer articulated his reason for leaving Maryland in no uncertain terms:
My family has operated our business from the same small town in northern Italy for 500 years. This means that when we make a commitment to a local community, our hope is to do so for decades, if not centuries, to come. We apply this same philosophy to all of our factories and locations throughout the world. Such a commitment is not a one-way street, though. In return for our investment in jobs, facilities and assistance to the local economy, we ask for respect and a supportive business climate. We deserve such respect. We make the standard sidearm for the U.S. armed forces. We also make firearms that police and consumers use to save their lives and the lives of others.
Beretta decided, after Maryland’s recent adoption of restrictive gun control measures, that the state no longer deserves his companies hard earned tax dollars. The decision came as the company was preparing to expand its Maryland facility. As Ugo Gussalli Beretta pointed out in his letter, there is no reason to remain in a state that treats his industry as “a necessary evil”.
And Beretta is not the only company making such decisions. Smith & Wesson recently announced that they will no longer be selling their firearms in the state of California, because of recently introduced “micro-stamping” rules.
Micro-stamping is a process where firearms are equipped with a special firing pin that leaves a serial number on every ammunition casing it strikes. Such technology is costly, and easily thwarted by any criminal equipped with a metal file. Smith & Wesson, rightfully, decided that the additional cost of the technology, in addition to the blatant disrespect for Second Amendment rights, is reason enough to limit their market share to friendly neighboring states. Sturm Ruger recently also came to similar conclusions.
Get the Market Movements in Advance: William's Edge Webinar for Monday, March 10th, 2014 | John Ransom