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Colt is coming to Florida

Discussion in 'Shooting Related Threads' started by geeber, Dec 1, 2011.

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  1. geeber

    geeber Member

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    I saw this on the Tampa news this evening. Colt Firearms is opening a new facility down here. It's great to see a firearms manufacturer doing well and expanding. It's good news for us all. I copied the following press release from Colt's website.

    Gary B.



    Colt’s Manufacturing Company is pleased to announce that the company will continue its progressive momentum by opening a new facility in Kissimmee, Florida. The new 16,000 square foot facility will allow Colt’s Manufacturing Company to expand into new markets and business lines in parallel with the company’s existing 100,000 square foot facility in Connecticut. Specific information on facility renovations and employee requirements will be determined over the course of the next several months.
     
  2. dverna

    dverna Active Member

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    That is a really small footprint. I hope they succeed but wonder if the overheads will be too big a drain. Maybe they have some really high margin products to offer and/or have most of their production out sourced.

    It sounds like a poor move if it will be a manufacturing facility. One would think an expansion of 15% could be more cost effectively accomplished in their current plant. There could be some justification in a satellite facility if they had a freight sensitive product line - but that is not the case.

    Don Verna
     
  3. lboh

    lboh Member

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    Don, pretty sure Colt has done their DD on the expansion and if there is a big risk this would not take place....

    Think big picture with reduced labor costs, lower taxes, and possible state incentives that combined will return initial capital requirements pretty quick.

    Maybe they have their eye on a bigger move south and testing the waters slowly.

    Not sure why any business remains in the NE.
     
  4. geeber

    geeber Member

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    Iboh,

    You are right. I do remember they said on the news cast that the state is giving Colt tax breaks and other incentives. Florida is activly trolling for businesses to come here.

    Gary B.
     
  5. blade819

    blade819 Well-Known Member

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    Labor is ALOT cheaper in Central Florida.

    blade819
     
  6. Baber

    Baber TS Member

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    Guys.... We have no state income tax like in Yankee land. Also it's a right to work state. No unions to screw things up.

    T
     
  7. Don S

    Don S Member

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    I know they are leaving Alton, IL.
     
  8. Recoil Sissy

    Recoil Sissy Well-Known Member

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    Don S:

    I think you have confused Colt and Winchester. Olin Corp's Winchester Division is located in East Alton, IL. Colt has no facilities there.

    sissy
     
  9. TOOLMAKER 251

    TOOLMAKER 251 Active Member

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    No state income tax, but how much is the tax on food, clothing etc. that other states don't tax you on?
     
  10. Don S

    Don S Member

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    Senior moment?
     
  11. geeber

    geeber Member

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    There is no tax on groceries but there is 7% sales tax on other goods.

    Gary B.
     
  12. dverna

    dverna Active Member

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    I inherited a satalite plant in Florida (Lakeland) when I took over the operation of a Michigan based company 13+ years ago. I understand costs. "Incentives" do not last forever and, even at the beginning, will not be enough to offset the fixed overheads that come with a separate facilty.

    60 jobs at an average of $45k does not sound like "cheap labor". Or is that the BS they told Florida to get concessions/incentives? (Yes, most companies over promise and under deliver on jobs/salaries.)

    I do not know enough to guess at their long range plans. Is the new site large enough to expand? Do they have "issues" at their current location that are addressed by a future move?

    I have witnesssed companies make dumb investments even when many poeple in the company knew the project would fail; and I have my share of "lessons" to draw upon as well.

    Like I said, good luck to them. It will be interesting to see what happens.

    Don Verna (who has been doing this for 20 years)
     
  13. trappertom

    trappertom TS Member

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    Beware, John Deere built a plant in East Tn. to build a "new product" and promised us the moon. After 5 years they shut it down and moved back to Iowa and their beloved union. Took forever to sell that green mower, almost had to give it away! No green at my place.
     
  14. shot410ga

    shot410ga Well-Known Member

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    Sounds like their moving administration to Florida. Is Colt privately owned?
     
  15. dverna

    dverna Active Member

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    I believe Colt is privately held.

    Don Verna
     
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