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It’s easy to see why Magpul is such a catch. The company, which sells firearms accessories to the military, law enforcement and sporting-goods stores, employs 200 people and supports another 400 supply-chain jobs, contributing an estimated $85 million each year to the state’s economy, according to company figures.

Colorado House Democrats tried to find common ground by amending the bill to exempt manufacturers from the 15-round restriction, but Magpul Chief Operating Officer Doug Smith said the company still would face a customer backlash.

“We could choose to stay in a state that wants our jobs and revenue, but not our products, and lose half the jobs we are fighting to save, or potentially the entire business, when our customers stop buying,” Mr. Smith said.