Gun Maker Smith & Wesson to Move Headquarters to Tennessee

#26
#26
I’ve seen liberal heads exploding. They are claiming it is socialism letting S & W have incentives to move to Blount. They don’t understand that 750 permanent workers pay income taxes and buy and build homes paying millions in property taxes every year. Plus millions in sales taxes. There’s also the $125 million invested in the facility. A $50,000,000 annual payroll and they are whining about S & W receiving tax free use of an undeveloped pasture. They are so stupid and so hateful.
 
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#27
#27
Thunder Good-Oil said:
I’ve seen liberal heads exploding. They are claiming it is socialism letting S & W have incentives to move to Blount. They don’t understand that 750 permanent workers pay income taxes and buy and build homes paying millions in property taxes every year. Plus millions in property taxes. There’s also the $125 million invested in the facility. A $50,000,000 annual payroll and they are whining about S & W receiving tax free use of an undeveloped pasture. They are so stupid and so hateful.
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It is socialism or government subsidy at least.

750 workers, if all were new to state, pay sales tax. Wonder what that amount is per year...$5,000?

750 x 5,000 = 3.75M per year. How long to recoup the subsidies?

Prop tax is 3k?

750 x 3,000 = 2.25m.

I do wonder what year is break even?
 
#28
#28
McDad said:
It is socialism or government subsidy at least.

750 workers, if all were new to state, pay sales tax. Wonder what that amount is per year...$5,000?

750 x 5,000 = 3.75M per year. How long to recoup the subsidies?

Prop tax is 3k?

750 x 3,000 = 2.25m.

I do wonder what year is break even?
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Good luck finding local 750 workers these days
Wonder how many will relocate
At least
 
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#29
#29
Orangeburst said:
Good luck finding local 750 workers these days
Wonder how many will relocate
At least
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it isn’t 750 production line jobs. Half of them might be headquarters jobs and the production workers would have skills. I would anticipate that the production lines will be highly automated. So if the colleges and technical schools don’t crank out enough workers no doubt others will relocate. Hopefully not from California or the NE if they bring their lefty politics with them.
 
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#30
#30
McDad said:
It is socialism or government subsidy at least.

750 workers, if all were new to state, pay sales tax. Wonder what that amount is per year...$5,000?

750 x 5,000 = 3.75M per year. How long to recoup the subsidies?

Prop tax is 3k?

750 x 3,000 = 2.25m.

I do wonder what year is break even?
Click to expand...

It is giving property tax breaks in exchange for spending $125 million to build it plus over $50 million in payroll. The 750 employees will generate a lot of sales tax revenue and also their homes will be taxed. Plus there is the multiplier effect of all that money being spent generating revenue for businesses servicing the additional commerce. It is a no-brained and any Leftist fussing about the property tax break is a fool.

The empty field was bringing in zero tax revenue. The only cost to tax payers is not collecting property taxes on the facility that aren’t going to be there if the land remains undeveloped anyway.
 
#31
#31
Thunder Good-Oil said:
It is giving property tax breaks in exchange for spending $125 million to build it plus over $50 million in payroll. The 750 employees will generate a lot of sales tax revenue and also their homes will be taxed. Plus there is the multiplier effect of all that money being spent generating revenue for businesses servicing the additional commerce. It is a no-brained and any Leftist fussing about the property tax break is a fool.

The empty field was bringing in zero tax revenue. The only cost to tax payers is not collecting property taxes on the facility that aren’t going to be there if the land remains undeveloped anyway.
Click to expand...

You also have to figure in suppliers and other auxiliary businesses moving to the area. When Baretta moved to Gallatin 3 or 4 of their suppliers did also.
 
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#32
#32
hog88 said:
You also have to figure in suppliers and other auxiliary businesses moving to the area. When Baretta moved to Gallatin 3 or 4 of their suppliers did also.
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Plus the raw materials arriving at the S & W manufacturing facility or their suppliers create business for transportation companies and workers, warehouses, the airport, and truck repair businesses. Hotel rooms for visiting executives and company representatives will be heavily taxed. It’s commerce. It’s capitalism. And Smith and Wesson is not an enormous, big, bad, evil corporation. Their market cap is only $1 billion. They are either a large small cap or a small mid cap company.
 
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#33
#33
Funny. Two of my leftist “friends” squawking loudly in opposition… one lives in a 4,000 SF house on a golf course and the other lives in LA and jets all over the country. The capitalism is fine for them as long as they enjoy what it produces. They are also huge hypocrites with their carbon footprints.
 
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#36
#36
Thunder Good-Oil said:
It is giving property tax breaks in exchange for spending $125 million to build it plus over $50 million in payroll. The 750 employees will generate a lot of sales tax revenue and also their homes will be taxed. Plus there is the multiplier effect of all that money being spent generating revenue for businesses servicing the additional commerce. It is a no-brained and any Leftist fussing about the property tax break is a fool.

The empty field was bringing in zero tax revenue. The only cost to tax payers is not collecting property taxes on the facility that aren’t going to be there if the land remains undeveloped anyway.
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I also like that if we need to close our borders we can defend ourselves, S&W for side arms, Barretta for long guns, and Holston Army Ammunition Plant for the real heavy lifting.
 
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#37
#37
Thunder Good-Oil said:
It is giving property tax breaks in exchange for spending $125 million to build it plus over $50 million in payroll. The 750 employees will generate a lot of sales tax revenue and also their homes will be taxed. Plus there is the multiplier effect of all that money being spent generating revenue for businesses servicing the additional commerce. It is a no-brained and any Leftist fussing about the property tax break is a fool.

The empty field was bringing in zero tax revenue. The only cost to tax payers is not collecting property taxes on the facility that aren’t going to be there if the land remains undeveloped anyway.
Click to expand...
I understand it brings revenue, taxes, other businesses. Haven't disputed it. Your offering defense when no challenge has been made.

Raw land is taxed though. I own undeveloped land. I pay taxes on it.

My point is I don't simply trust a government to be honest about something. Even something positive. And I am wondering at what year is the break even or balance point reached where incentives/ subsidies = tax revenues?
 
#39
#39
McDad said:
I understand it brings revenue, taxes, other businesses. Haven't disputed it. Your offering defense when no challenge has been made.

Raw land is taxed though. I own undeveloped land. I pay taxes on it.

My point is I don't simply trust a government to be honest about something. Even something positive. And I am wondering at what year is the break even or balance point reached where incentives/ subsidies = tax revenues?
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For the Blount county lawmaker.....it already has, that farmer didn't give them squat.
 
#40
#40
Thunder Good-Oil said:
I’ve seen liberal heads exploding. They are claiming it is socialism letting S & W have incentives to move to Blount. They don’t understand that 750 permanent workers pay income taxes and buy and build homes paying millions in property taxes every year. Plus millions in sales taxes. There’s also the $125 million invested in the facility. A $50,000,000 annual payroll and they are whining about S & W receiving tax free use of an undeveloped pasture. They are so stupid and so hateful.
Click to expand...
Electrical Contractors were popping champagne when they heard this manufacturing facility was coming to town…
 
#41
#41
McDad said:
I understand it brings revenue, taxes, other businesses. Haven't disputed it. Your offering defense when no challenge has been made.

Raw land is taxed though. I own undeveloped land. I pay taxes on it.

My point is I don't simply trust a government to be honest about something. Even something positive. And I am wondering at what year is the break even or balance point reached where incentives/ subsidies = tax revenues?
Click to expand...

Biggest scam in history of taxes. A wealth tax at best and just a lease at worst.
 
#43
#43
McDad said:
I understand it brings revenue, taxes, other businesses. Haven't disputed it. Your offering defense when no challenge has been made.

Raw land is taxed though. I own undeveloped land. I pay taxes on it.

My point is I don't simply trust a government to be honest about something. Even something positive. And I am wondering at what year is the break even or balance point reached where incentives/ subsidies = tax revenues?
Click to expand...

This land wouldn’t have been generating taxes. The local governments seems to have owned it. Zero revenue. The only “cost” to the tax payers is the opportunity cost. Blount/Maryville aren’t stroking a check.
 
#44
#44
85SugarVol said:
Electrical Contractors were popping champagne when they heard this manufacturing facility was coming to town…
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Hell, I am hearing it is hard to find electricians to cover projects in Middle TN. Something like 70+ openings for the last 2 or 3 months on a big project near Clarksville/Springfield.
 
#45
#45
The liberals are butt hurt that the government is incentivizing capitalists that will use that public investment and return it many times over. They’d rather use it to buy votes by forgiving the student loan debt of gender studies majors and commissioning $250,000 murals to their artist friends. Investing is a dirty word that they do not understand.
 
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#49
#49
McDad said:
It is socialism or government subsidy at least.

750 workers, if all were new to state, pay sales tax. Wonder what that amount is per year...$5,000?

750 x 5,000 = 3.75M per year. How long to recoup the subsidies?

Prop tax is 3k?

750 x 3,000 = 2.25m.

I do wonder what year is break even?
Click to expand...
So currently there is no S&W tax base from which to levy tax revenues from so wouldn’t “break even” be year one with the level of normalization some period down the road? Honest question not trying to pin you down mcdaddio you’re more versed on this topic than I am.
 
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