The city of Huntsville is reiterating its support for a firearms manufacturer that recently filed for bankruptcy.
Huntsville officials released a statement yesterday saying its economic development team will continue engagement with Remington. The company filed for Chapter 11 bankruptcy protection Sunday.
The statement also acknowledges Remington has fallen behind on job-hiring obligations tied to financial incentives it receives from the city.
A project development agreement between Huntsville and Remington was approved by the city council in February 2014. Remington promised to have 680 employees at its Huntsville facility by the end of "project year" 2017.
The statement says Remington currently has approximately 500 local employees and contributes $30 million in annual payroll into the community.
Huntsville-Madison County Chamber of Commerce CEO Chip Cherry says Remington has met its other obligations: capital investment at the facility and overall wages paid.
