Gun maker Remington Outdoor has exceeded hiring and wage benchmarks established in its development agreement for its new research and development and advanced manufacturing facility in Huntsville.
A recent Huntsville/Madison County Chamber of Commerce report indicates that as of the end of August, Remington had 324 employees with an hourly pay rate almost $10 higher than was required by the company’s development agreement with the City of Huntsville and the State of Alabama, the AL.com reported.
The gun maker was expected to create 280 full-time jobs receiving an hourly wage of $19.50 by the end of its second year, which ends Feb. 28.
“Remington is doing more than promised and is well ahead of schedule,” said Huntsville Mayor Tommy Battle told the newspaper.
The employment figures, requested by the Huntsville Industrial Development Board, were certified by Mercer & Associations, and the company plans to increase its hiring over the next several years.
If all goes according to plan, Remington would like to have:
The contract also includes “clawback” provisions requiring Remington to pay a portion of the $1.25 million mortgage on the facility — owned by Huntsville’s Industrial Development Board — if they don’t meet the set job benchmarks.
However, with the company exceeding expectations in employee growth it seems unlikely that those clawback provisions will need to be implemented.