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Report: N.C. law could cost state $567M
2016-04-20

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The Center for American Progress has distributed an analysis of the potential economic cost of North Carolina's anti-LGBT law HB2.

Based on publicly available estimates of the economic impact of lost or at-risk business activity or events, the state's economy could potentially lose out on more than $567.5 million in private-sector economic activity through 2018.

Among those businesses/activities lost pending the law's repeal are PayPal ( $44 million ), Deutsche Bank ( $21.4 million ), an unnamed tech company expansion in Buncombe County ( $14.3 million ), film company Lionsgate ( $3 million ), a Bruce Springsteen concert ( $0.7 million ), Charlotte hotel revenue lost from canceled or relocated events ( $2.2 million ) and five canceled, relocated or scaled-back events in Raleigh ( $0.7 million ).

At-risk businesses/activities include Braeburn Pharmaceuticals ( $27.6 million ), Red Ventures ( $15.9 million ), NCAA ( $10 million ), NBA ( $195 million ), ESPN ( $50 million ), High Point Market ( $143.4 million ), Charlotte hotel revenue from potential relocated events ( $15.3 million ) and 16 events in Raleigh at risk of being canceled ( $24 million ).

These totals do not include several entities that have announced that they will not do business in North Carolina but do not currently have events or work planned in the state, including Google Ventures, Fox, A+E Studios and Turner Broadcasting.

The article is at www.americanprogress.org/issues/lgbt/news/2016/04/13/135391/north-carolinas-discriminatory-h-b-2-threatens-more-than-half-billion-dollars-in-economic-activity/ .


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