As the headlines pile up announcing business opposition to the pro-discrimination legislation HB2, it’s becoming increasingly clear that the law is placing North Carolina’s economy in jeopardy.
In fact, a recent report from the Center for American Progress finds that HB2 threatens $567 million in economic activity from just the companies that have announced they are canceling or reconsidering investment in the state, the tourism dollars lost due to canceled conventions, and entertainers like Bruce Springsteen and Ringo Starr canceling events in North Carolina.
Even more troubling, this total doesn’t include all the potential economic development projects that won’t happen but no one hears about as companies quietly write North Carolina off their list of possible locations for expansion. And it doesn’t include the $20 billion in federal aid that could be lost if it turns out that HB2 runs afoul of federal anti-discrimination laws.
According to the report, here’s a list of all the losses and pending losses to the state’s economy happening as a direct result of HB2: