Gov. McCrory's Discriminatory Law is an Economic Disaster for NC

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Many companies like PayPal, Google Ventures, and Braeburn Pharmaceuticals have not only condemned House Bill 2 but publicly withdrawn jobs and revenue from the state in protest. Governor McCrory and the right-wing politicians in Raleigh have put us in the national spotlight as regressive and discriminatory. Now, national funding and travel to NC could be withheld to put pressure on our politicians. 

Continue to the complete editorial and video from NBC News here:

PayPal

On March 18, PayPal announced plans to build a $3.6 million global operations center in Charlotte and hire 400 people to work there. Five days later, the state legislature held a special one-day session to head off a Charlotte city ordinance extending anti-discrimination protections to lesbians, gays, bisexuals and transgender people — including the freedom to use the bathroom of their chosen gender. The rushed vote, and McCrory's late-night signature, essentially nullified that measure and prevented any other efforts to pass LGBT protections.

On Tuesday, CEO Dan Schulman said the company was scrapping its plans. Hesaid in a statement that the new law "perpetuates discrimination" and violated the company's "values and principles." He also pledged to work with the state's LGBT community to press for the new law to be repealed.

North Carolina lured PayPal with $2.7 million in economic development grants, but the state estimated that the facility's payroll alone would have generated more than $20 million a year.

Google Ventures

Last week, the CEO of Google's venture capital arm notified his partners that he did not want to invest in projects in North Carolina "until the voters fix this,"Re/code reported.

The decision didn't have any immediate impact, since Google Ventures has yet to back any North Carolina startups. But the state is home to a huge technology and research industry, including a bumper crop of entrepreneurial companies, and could have benefited from the firm's support. Startups raised $1.2 billion in investment funding in 2015, three-quarters of which came from outside the state, according to North Carolina's Council for Economic Development.

Comments

  1. Wendy Core's avatar
    Wendy Core
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    The only good I can see coming from this is that the financial losses to the state may be so great that it will motivate liberals to vote these conservative morons out!
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