by Jane Porter
This legislation is bad for business and bad for North Carolina. We must eliminate the issues this legislation creates. The Greater Raleigh Chamber will work with Gov. Pat McCrory, legislators, and other elected leaders to find a solution that is in the best interest of our region and state while strengthening our commitment to diversity, inclusion, and equality.Raleigh's city council just voted to endorse the Chamber's statement, essentially a long-awaited resolution against the bill.
The Greater Raleigh Chamber of Commerce’s mission is to sustain and further develop a thriving economy and to enhance our community’s quality of life. We are against discrimination in all forms. The Triangle’s growth and success depend on attracting and retaining top talent and companies. Raleigh, Wake County and the Triangle region’s commitment to inclusion and equality makes our area a top place to live and do business.
HB2 has already harmed business growth in Wake County and the state of North Carolina’s reputation. This legislation is a threat to our mission as an organization devoted to growing our region’s economy. Our state has been represented negatively in more than 5,300 media outlets across the United States with nearly 8 billion impressions.
In Wake County, we have lost 250 committed jobs from Deutsche Bank, as well as a technology company that was considering the creation of up to 1,000 jobs in our region. Several other companies have eliminated us from consideration, explicitly citing this bill. Our Convention and Visitors Bureau is reporting over $3.2 million in lost revenues, and much more is at risk.
Chamber members, large and small companies, national sports organizations, and citizens have spoken out about the value of diversity and inclusion in North Carolina, as well as the importance of anti-discrimination policies. Since becoming law, the following losses have been announced citing HB2 (possibly pending repeal):
· PayPal: $44 million and 400 jobs
· Deutsche Bank: $9 million and 250 jobs
· Technology company expansion to Wake County: up to 1,000 jobs
· Technology company expansion in Buncombe County: $14.3 million
· Lionsgate relocated pilot series from North Carolina: 100 jobs
· Bruce Springsteen, Ringo Starr, Boston, and Pearl Jam: concerts canceled
· Cirque du Soleil: canceled North Carolina performances
· Charlotte hotel revenue lost from canceled or relocated events: $2.2 million
· Raleigh canceled, relocated, or scaled-back events: $3.2 million
· Google Ventures, which invests $2.4 billion in start-up ventures: will not invest in North Carolina start-ups
· City or state governments instituting travel bans to North Carolina: 16
Additional economic development projects and conventions are at risk pending repeal of HB2, including:
· Braeburn Pharmaceuticals: $27.6 million
· Red Ventures job expansion
· NCAA events (basketball, soccer, track, and more)
· High Point Market economic activity
· Charlotte hotel revenue from potential relocated events: $15.3 million
· 16 events in Raleigh at risk of being canceled: $28 million in visitor spending