MAGPUL INDUSTRIES ANNOUNCES PLANS FOR RELOCATION
Magpul Industries announced today that the company is relocating manufacturing, distribution and shipping operations to Cheyenne, Wyoming. Magpul is leasing a 58,000 square foot manufacturing and distribution facility during the construction of a 100,000 square foot build-to-suit facility in the Cheyenne Business Parkway. The Wyoming relocation is being completed with support from Governor Matt Mead, the Wyoming Business Council and Cheyenne LEADS. Magpul is moving its corporate headquarters to Texas. Three North Central Texas sites are under final consideration, and the transition to the Texas headquarters will begin as soon as the facility is selected. The Texas relocation is being accomplished with support from Governor Rick Perry and the Texas Economic Development Corporation . . .
“Magpul made the decision to relocate in March 2013 and has proceeded on an aggressive but deliberate path” says Doug Smith, Chief Operating Officer for Magpul Industries. “These dual moves will be carried out in a manner that ensures our operations and supply chain will not be interrupted and our loyal customers will not be affected.”
The company began a nationwide search for a new base of operations after legislation was enacted in Colorado that dramatically limits the sale of firearms accessories – the core of Magpul’s business. Magpul plans on initially transitioning 92% of its current workforce outside of Colorado within 12-16 months and will maintain only limited operations in Colorado.
“Moving operations to states that support our culture of individual liberties and personal responsibility is important,” says Richard Fitzpatrick, Chief Executive Officer for Magpul Industries. “This relocation will also improve business operations and logistics as we utilize the strengths of Texas and Wyoming in our expansion.”
Founded in 1999, Magpul was launched to manufacture an innovative device to aid in the manipulation of rifle magazines while reloading under stress. The company’s name comes from the original product called the Magpul. Over the last decade Magpul has continued to grow and develop into additional product areas using much the same mission and process with a focus on innovation, creativity, and efficiency.
For more information, please contact Duane Liptak at [email protected], 303.828.3460 x170.
OFFICE OF GOVERNOR MATT MEAD
Cheyenne, WY 82002
Ph. (307) 777-7437
January 2, 2014
******FOR IMMEDIATE RELEASE******
Governor Welcomes Magpul Industries to Wyoming
CHEYENNE, Wyo. – Magpul Industries has announced that it will relocate its manufacturing, distribution and shipping operations to Cheyenne, Wyoming. Governor Matt Mead expressed his support in helping with the move, which begins immediately and his appreciation for Magpul recognizing the state’s benefits to a manufacturing company.
“Wyoming and Magpul are a great match. The state is looking to expand and diversify its economy. Bringing an innovative and growing manufacturing operation to Wyoming is a significant step for the state. We offer Magpul an attractive tax environment, stable and reasonable regulations, not to mention a firm commitment to uphold the Second Amendment,” Governor Mead said.
The company plans to lease a 58,000 square foot manufacturing and distribution facility while the construction of a new 100,000+ square foot build-to-suit facility is being completed in the Cheyenne Business Parkway. This two-phased approach allows for rapid movement of operations out of Colorado where the company is currently located. Additionally, Magpul is moving its corporate headquarters to Texas.
Magpul Industries has been looking at relocation since early this year. “Magpul made the decision to relocate in March 2013 and has proceeded in an aggressive but deliberate manner,” said Doug Smith, Chief Operating Officer for Magpul Industries. “These dual moves will be carried out in a manner that ensures our operations and supply chain will not be interrupted and our loyal customers will not be affected.”
“Magpul has a core set of values that guides its business plan, its relationship with its employees and how it develops and produces its products,” said Randy Bruns, Chief Executive Officer of Cheyenne LEADS. “We are pleased that they will be anchoring that approach to business here in southeast Wyoming. The company’s move to Cheyenne represents a significant expansion of local manufacturing and job diversity.”
Cheyenne LEADS is pursuing a grant and loan package through the Wyoming Business Council that will enable LEADS to construct a building that can be leased to Magpul. Cheyenne LEADS has secured a temporary facility in a vacant warehouse and committed to bring it into useable condition and make it available to Magpul while a new facility is under construction. “This project has clearly been a team effort of the Governor’s Office, the Wyoming Business Council, Laramie County and Cheyenne LEADS, working closely with Magpul,” states Bruns. “It is to the credit of the Cheyenne community and LEADS’ board of directors, past and present, that LEADS has the capacity to play an important role in bringing Magpul here.”
Magpul was founded in 1999 with the intent of developing a simple device to aid in the manipulation of rifle magazines while reloading under stress. Since that time, the company has expanded its production line to include consumer products and firearm accessories from phone cases to rifle stocks to magazines based on proprietary composite material. The company products are known for their extreme reliability and durability and have become some of the most sought after accessories in the industry. “This company brings a new level of manufacturing capability to Cheyenne and the state,” stated Bob Jensen, Chief Executive Officer of the Wyoming Business Council. “It will serve as a magnet that will help significantly grow Wyoming’s manufacturing industry and is a great investment for Wyoming.”
Office of the Governor
For Immediate Distribution
Jan. 2, 2014
Governor’s Press Office: 512-463-1826
Lucy Nashed: [email protected]
In Case You Missed It: Magpul Industries to Move Headquarters to Texas
AUSTIN – Firearm accessories manufacturer Magpul Industries has announced it is relocating its corporate headquarters from Colorado to Texas. Magpul began a nationwide relocation search following the passage of anti-2nd Amendment legislation in Colorado this summer that made it difficult for the company to do business.
“In Texas, we understand that freedom breeds prosperity, which is why we’ve built our economy around principles that allow employers to innovate, keep more of what they earn, and create jobs,” Gov. Perry said. “I’m proud that Magpul is the latest employer to join the ranks of companies that call Texas home.”
“Excessive government regulation undermines a culture based on personal responsibility and creates a detrimental business environment,” Magpul CEO Richard Fitzpatrick said. “Texas supports personal freedoms and our company will thrive in that environment.”
Gov. Perry has reached out to more than 30 firearm manufacturers in states across the country that are considering restricting sales and manufacturing in the industry. Magpul cited the Lone Star State’s business-friendly environment, predictable regulations and consistent respect for the Second Amendment as key elements in its decision to relocate.
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