This article talks about large business's reactions towards North Carolina's House Bill 2 (HB2). The new law allows cities and local governments to not expand "employment" or "public accommodations" protections to others, such as on the basis of sexual orientation or gender identity. Multi-billion-dollar companies are taking a stand and withdrawing investment from the state as some residents look for "friendlier" locations. Most recently Deutsche Bank has stopped upgrading their new facility that would have created 250 jobs in the state. Even 170 small businesses have signed a petition to repeal HB2. I am curious to see what the government plans to do with the impact HB2 has made.
http://www.nbcnews.com/business/business-news/tar-heel-tatters-lgbt-law-strips-state-business-investment-n556686
I am interested to see how the government reacts to businesses departing North Carolina. If multi-billion-dollar companies are withdrawing funds, it seems likely that the government will have to make some changes to HB2. In addition, with unemployment increases and decreases in investment, it hardly seems worth it keep this damaging policy.
ReplyDeleteYeah it's unfortunate this was passed. I can imagine it will hurt business because many people would not be in support of that. Plus, the more inclusion you have, the wider you're able to expand your market. It's good that people value things more than their money, and they are willing to withdraw their money if it doesn't support a cause they believe in.
ReplyDeleteI do not think this bill will be in action for very long given the mass exodus of businesses and investment already leaving the area. As it was stated above, by shutting out different groups of people businesses in North Carolina are damaging the diversity of the companies that would actually benefit them in the long run by being able to reach out more people. With more inclusion will come better products, innovation, and even profits. I have a feeling this bill will be repealed and North Carolina will have to support and include all different groups of people.
ReplyDeleteThere is no way that this law stays in effect. Huge events are already being cancelled and moved from Charlotte, which is costing the state and local businesses millions of dollars in revenues. The NBA is contemplating moving the All-Star game next year if the state does not repeal the law as well.
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