Businesses weren’t opening in North Carolina because of the availabiility of transgender bathrooms, but they certainly don’t wany part of a discriminatory policy – and it’s costing the state billions:
Despite Republican assurances that North Carolina’s “bathroom bill” isn’t hurting the economy, the law limiting LGBT protections will cost the state more than $3.76 billion in lost business over a dozen years, according to an Associated Press analysis.
Over the past year, North Carolina has suffered financial hits ranging from scuttled plans for a PayPal facility that would have added an estimated $2.66 billion to the state’s economy to a canceled Ringo Starr concert that deprived a town’s amphitheater of about $33,000 in revenue. The blows have landed in the state’s biggest cities as well as towns surrounding its flagship university, and from the mountains to the coast.
Who’d a thunk it?
Meanwhile, canceled conventions, concerts and sporting events ranging from the NBA All-Star Game to a Bruce Springsteen show have deprived the state of more than $196 million. The number was compiled through email exchanges and interviews with local tourism officials.
All told, the state will have missed out on more than $3.76 billion by the end of 2028. The losses are based on projects that already went elsewhere — so the money won’t be recouped even if the law is struck down in court or repealed.
By the end of 2017 alone, the lost business will total more than $525 million.
While I’m not exactly down with the idea that corporate pressure is the only means by which to exact a price for failing to defend basic human rights, it uses methods that plutocrats and their legigslative allies understand.