North Carolina will takes a huge financial loss as they continue to hold onto HB2, the law that prohibits transgender people from using the facilities that best match their gender identities. It is expected that it will cost the state 3.37 billion dollars in business losses over the next 12 years.
The losses have already started with concerts cancelling like Bruce Springsteen and Ringo Starr, but worse losses came from businesses who refused to invest in the state like PayPal who shifted plans to build a facility in NC—causing an estimated loss of 2.66 billion dollars.
The current 3.76 billion is still a low-ball estimate. The report was gathered by the Associated Press through interviews and public records. The AP also used projects that listed HB2 as the reason for moving their business. What wasn’t accounted for was the loss of revenue due to companies not wanting to be associated with the controversy.
Supporters of the HB2 law do say the loss of state gains will be worth it, if it means protecting women from sexual predators who may enter bathrooms as they please (despite no evidence that having an inclusive bathroom policy shows an increase in assaults). [NON]