North Carolina’s bathroom bill will cost the state more than $3.76 billion in lost business over a dozen years, according to an Associated Press report.
North Carolina has reportedly suffered financial woes ranging from botched plans for a PayPal facility that would have added an estimated $2.66 billion to the state’s economy, to a canceled Ringo Starr concert that bereaved a town’s amphitheater of about $33,000 in revenue.
According to the report, North Carolina could lose hundreds of millions more because the NCAA is avoiding the state, usually a favored host. The group is set to announce sites for various championships through 2022 and North Carolina will not be among them as long as the law is in effect. The NCAA opted to move the 2017 Basketball Championships to Greenville, South Carolina.
However, some in North Carolina say that the bathroom bill has not affected the state at all.
According to The Washington Times, tourism has thrived after the passage of the bathroom bill. “Hotel occupancy, room rates and demand for rooms set records in 2016, according to the year-end hotel lodging report issued last week by VisitNC, part of the Economic Development Partnership of North Carolina,” the article explains.
North Carolina still is ranked fourth in the nation for “attracting and expanding businesses” with the arrival of 289 major projects in 2016, and seventh overall for projects per capita. The numbers almost exactly represent those found in Site Selection magazine’s 2015 edition.
North Carolina is also ranked first of eight states for bringing in corporate facilities in the South Atlantic region. Forbes and Site Selection magazine both ranked North Carolina as the No. 2 state for “business climate” in November.
According to the U.S. Bureau of Labor Statistics, North Carolina had only a 5.3 percent unemployment rate in January 2016 and the was unchanged in January 2017.
Multiple request for comment were left with the NC House Majority Leader’s Office, but were not returned in time for publication.