MADISON COUNTY, Ala. - In 2014, gun manufacturer Remington made a deal with the City of Huntsville and the Madison County Commission promising lots of jobs in exchange for incentives.
Now, both the city and county commission have agreed to give Remington more time to reach their promised employment goal.
Remington's original agreement with the city and commission required the company meets three objectives:
- Salary requirements
- Capital investments
- A specific number of employees.
So far, they've met two out of three.
"We had to change it just because of the economy and where it is," said Madison County Commission Chairman Dale Strong. "It's just the demand of firearms is not where it was four to six years ago."
The city and county commission have made a modification to their agreement with Remington, who declared bankruptcy back in March.
Originally, the company would receive benchmarked incentives for every 500 jobs. Now, Remington doesn't have to hire as many local workers, in fact, several hundred less according to Strong.
"We've got a lot of employees there actually making more than we thought they would be paid. It's been very successful, but again the market is only so big so what we did is we allowed them in the agreement so that they would not have to hire as many as we originally thought," Strong said.
Strong says they gave the company this extension to allow the market to grow and the commission is happy with how Remington is performing now and they're looking forward to their future development.
Remington now owes both the city and county some money following the second agreement. Strong said at this time that they don't know an exact number of how much money will come back from the company.