North Carolina’s bathroom bill could cost the state almost $3.76 billion over twelve years, according to a Monday analysis by the Associated Press.
The Associated Press, going through interviews and public records requests, based their findings on businesses that left the state explicitly because of the the bathroom bill.
HB2 banned transgender people from using the bathroom of their choice.
PayPal, which refused to bring 400 jobs to the state, could have added $2.66 billion to North Carolina’s economy by 2028, AP found. State officials believed that the company would have added $200 million each year to the state’s gross domestic product (GDP).
CoStar, a real estate company, stopped a negotiation that would have brought 700 jobs to the state. The Deutsche Bank refused to bring 250 more jobs to North Carolina. Deutsche Bank would generate $543 million for the tar-heel state by the end of 2027.
North Carolina’s bathroom bill may cost the state $525 million in losses by the end of 2017, reports AP.
Some HB2 supporters remain unconcerned about the loss in money, saying that the state’s economy is strong enough to absorb the hit.
“The effect is minimal to the state,” Lt. Gov. Dan Forest said earlier about the bill. “Our economy is doing well. Don’t be fooled by the media. This issue is not about the economy. This issue is about privacy, safety and security in the most vulnerable places we go.”
North Carolina’s bathroom bill was also seen as a contentious issue in the state’s 2016 gubernatorial election. Former Gov. Pat McCrory — a supporter of HB2 — lost to state Attorney General Roy Cooper.
Cooper is a Democrat advocating for repeal of the bill, calling it a “dark cloud” over the state.
“Let’s do it this week. It’s time to move on. Now House Bill 2 might be a dark cloud but even the darkest clouds roll over and I believe we are a state of promise at our core,” Cooper said in early March.