HB2: AP Analyzes Stunning Economic Repercussions for N.C.

An Associated Press exclusive today found that despite Republican assurances that North Carolina’s “bathroom bill” isn’t hurting the economy, the law limiting LGBTQ protections will cost the state more than $3.76 billion in lost business over a dozen years.

Protestors against HB2 in Asheville, N.C.Photo by J. Bicking / Shutterstock.com

In a groundbreaking analysis published today, the Associated Press reports that “despite Republican assurances” that the discriminatory anti-LGBTQ HB2 law isn’t hurting North Carolina’s economy, it will cost the state more than $3.76 billion in lost business over a dozen years—and even that likely underestimates the damage.

“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 AP’s Emery P. Dalesio  and Jonathan Drew report.

“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.” The AP’s extensive analysis shows that the state could lose hundreds of millions more if lawmakers refuse to repeal the law, prompting the NCAA to pull championship events from the state through 2022. Read more about the AP’s analysis of the terrible cost of the anti-LGBTQ law here.