Remington Arms Receives Grants

Welcome to the 5th installment of The JSMP Weekly.

Remington Arms located in Ilion, NY recently received two grants totaling $3 million dollars from the New York State Senate and another from the Empire State Development Corp. It is amazing how a depressed economy can change one’s mind about gun manufacturers.

Remington will add $10 million to expand the Ilion facility and add 100 new jobs. However, I think that calling the jobs "new" is a bit questionable... In January, Remington purchased H&R Firearms Co., of Gardner, MA. The "new" jobs are actually being transferred from there. Bear in mind, Remington is owned by Cerberus Capital Management, L.P.

I think consolidation leads to less competition, less consumer choices and higher consumer prices. New York state Sen. James L. Steward said “ This truly will have a ripple effect.” Let’s hope it is for the better and not the worse.

See Ya Next Week,

- Jeff