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Economic Development

Mar. 27 – And now for the OTHER point of view, the AP's analysis points to major economic losses for North Carolina

Category: Economic Development

By Lou Phelps, Savannah Business Journal
March 27, 2017 – After North Carolina’s statewide tourism arm, VisitNC, released reports last week that stated that the state’s controversial ‘bathroom bill’ had not hurt the state economically, national media outlets dug into economic data, and report a very different story.  VisitNC is a state agency, controlled by the Governor and Republicans who supported the bll that limited LGBT protections.
The Associated Press is reporting today that North Carolina will lose more than $3.76 billion in business over the next twelve years, or approximately $313 million a year in total revenues.
The AP points out that the loss of the PayPal facility alone was a loss of $2.66 billion.  And the state had previously been viewed as a ‘favored host’ by the NCAA for tournaments, but is now “avoiding the state,” according to the Associated Press.   “The group is set to announce sites for various championships through 2022, and North Carolina won't be among them as long as the law is on the books. The NAACP also has initiated a national economic boycott,” according to today’s story.
The AP analysis can be found at (http://apne.ws/2n9GSjE ), which they state was “compiled through interviews and public records requests,” and represents “the largest reckoning yet of how much the law, passed one year ago, could cost the state. The law excludes gender identity and sexual orientation from statewide antidiscrimination protections, and requires transgender people to use restrooms corresponding to the sex on their birth certificates in many public buildings.”  And, they add that the AP’s “tally is likely an underestimation of the law's true costs. The count includes only data obtained from businesses and state or local officials regarding projects that canceled or relocated because of HB2. A business project was counted only if AP determined through public records or interviews that HB2 was why it pulled out.” According to today’s story.  
“Some projects that left, such as a Lionsgate television production that backed out of plans in Charlotte, weren't included because of a lack of data on their economic impact,” the worldwide news organization explains.  “The AP also tallied the losses of dozens of conventions, sporting events and concerts through figures from local officials. The AP didn't attempt to quantify anecdotal reports that lacked hard numbers, or to forecast the loss of future conventions.”
The complete AP story can be found at: http://apne.ws/2na8fK4

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