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HRC on the cost of HB2: At least $698 million

Pat McCrory

Pat McCrory

Last year North Carolina Gov. Pat McCrory’s ignited a national controversy over HB2, the anti-LGBT legislation he pushed and signed into law. Since then, McCrory has staked his re-election on standing by his hateful law, despite the consequences for the states.

While in 2012, McCrory was easily elected by more than 11%, according to the Real Clear Politics average, he is trailing by 1.5%, while other polls show him up one point. The race is in a statistical dead heat.

The reason for McCrory’s electoral challenges is simple: HB2. The New York Times Magazine recently reported that the law has “created a rift between what used to be the Republican Party’s most durable bases: social conservatives and business.” More than 160 leading CEOs and business have come out against the law. More are refusing to do business in Pat McCrory’s North Carolina.

Just this week, North Carolina lost out on another 730 jobs and a $250,000,000 investment because of HB2, bringing the total cost to the state to at least $698,000,000.

According to recent polling, 60% of North Carolina voters think the law has hurt the states reputation and only a third of voters support the discriminatory law. Voters want their governor to focus on job creation and growing the economy, not chasing good-paying jobs to other states.

Below is an overview of the economic cost of McCrory’s discriminatory law as compiled by the Human Rights Campaign (HRC):

Total estimated cost:

·       An estimated combined cost of at least $698 million (commerce loss + money spent to fight HB2 + money devoted to bringing business back to North Carolina)

Commerce loss:

·       WRAL reports that Raleigh could lose as much as $7.6 million in canceled convention gatherings, and an additional $32.6 million in surrounding business loss. [WRAL, June 6, 2016]

·       NBC News cites HRC figures from the Charlotte Chamber of Commerce that the Charlotte Area has lost $285 million in commerce. [NBC News, June 6, 2016]

·       Penny Rich, County Commissioner for Orange County, wrote for Chapelboro that the county has lost roughly $460,000 in economic loss, and predicts a total loss of $1.3 million. [Chapelboro, July 11, 2016]

·       TIME reported that the economic impact of Charlotte losing the NBA All-Star Game was$100 million. [TIMEJuly 24, 2016]

·       The Virginian Pilot reports that the Greensboro area was expected to receive a $14.5 millioninfusion from the NCAA tournament, as well as $1.6 million from the soccer championships in December that are being moved. [The Virginian PilotSeptember 13, 2016]

·       The News & Observer reports that the NCAA soccer, baseball, lacrosse and tennis events taken from Cary will deprive the area of about $2 million. [The News & ObserverSeptember 13, 2016]

·       The Huffington Post reported that North Carolina lost $250 million when CoStar Group chose not to move to Charlotte because of HB2 [The Huffington Post, October 26, 2016]

Money spent to fight HB2:

·       The Associated Press reports that the North Carolina General Assembly set aside $500,000in funds diverted from the state’s disaster relief fund. [The Associated Press, July 1, 2016]

Money devoted to bringing business back to North Carolina:

·       The News & Observer reports that NC State Rep. Darren Jackson proposed a provision to the North Carolina House budget that would repeal HB2 and set aside $2 million to restore the state’s reputation. The provision failed. [The News & Observer, May 19, 2016]

·       Indy Week reports that McCrory spent nearly $7,500 in state money flying to TV appearances to defend HB2 [Indy Week, July 11, 2016]

·       $3.75 million in additional marketing allocations in the NC budget

Performances in NC affected by HB2:

·       Bruce Springsteen, April 10 — Cancelled performance in Greensboro

·       Mumford & Sons, April 14  — Made a donation to an unnamed local LGBTQ organization from its show in Charlotte.

·       Pearl Jam, April 20 — Cancelled performance in Raleigh

·       Cirque du Soleil, April 20-24 (Greensboro), July 6-10 (Charlotte), & June 22-26 (Raleigh) —Cancelled performances in three locations for two tours.

·       Dead & Company, featuring John Mayer, June 10 — Donated $100,000 to HRC and Equality North Carolina, also welcomed organizers on site at Charlotte performance

·       Beyonce, May 3 — Spoke out during session against HB2 at performance in Raleigh

·       Boston, May 4-6 — Cancelled performances in Charlotte, Greensboro, and Raleigh

·       Jackson Browne, May 28 and June 1 — Donating proceeds to HRC and Equality North Carolina from Asheville and Wilmington performances

·       Al Yankovic, June 18 — Donating personal fee to HRC from Greensboro performance

·       Ringo Starr, June 18 — Cancelled performance in Cary

·       Cyndi Lauper, June 4 — Donating proceeds to LGBT groups in NC from Raleigh performance

·       Maroon 5, September 11 & 12 — Cancelled performances in Charlotte and Raleigh

·       The Lumineers, September 15 — Donating all profits to HRC and Equality North Carolina, will also have organizers on site collecting donations

 



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Posted by on Oct 28, 2016. Filed under Online Only, Top Highlights, Around the Nation. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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