Just when we thought North Carolina’s bathroom bill couldn’t get worse!
On Sunday, it was estimated that the law limiting LGBT protections will cost the southern state over $3.76 billion in lost business throughout the course of 12 years. This shocking update directly contradicts the Republican party’s claims that the bill would NOT hurt NC’s economy.
But you know. When have they been wrong about money..?
According to the Associated Press, the state has had numerous financial hits over the last year alone. Specifically, the scratched plans for a PayPal facility deprived North Carolina’s economy of about to $2.66 billion and Ringo Starr‘s canceled concert caused the state to miss out on $33,000 in revenue. And those are just TWO examples!
To make matters worse for North Carolina, the NCAA is avoiding the state like the plague amid planning for various championships through 2022. Apparently, as long as the law is in place the NCAA won’t have any championship games hosted in North Carolina. Oof.
Also, the AP‘s projections are based on already lost business, thus, even if the law is repealed the state won’t recoup the money. According James Kleckley of East Carolina University, it’s been a struggle to find the positive benefits from the controversial law. He noted:
“I don’t know of any examples where somebody located here because of HB2. If you look at a law, whether or not you agree with it or don’t agree with it, there are going to be positive effects and negative effects. Virtually everything we know about (HB2) are the negative effects. Even anecdotally I don’t know any positive effects.”
You can say that again. Within 12 months, more than 2,900 direct jobs have been relocated out of the state because of the controversy.
And ever since Donald Trump withdrew federal protection for transgender students, we doubt the state will easily overturn this bill.
So, in short, this bathroom bill just sucks for everyone in North Carolina across the board.