Bloomberg Businessweek is reporting that New York may see hundreds of millions of dollars in extra revenue thanks to the legalization of gay marriage there. From the Bloomberg article:
New York may reap $310 million over the next three years from license fees, taxes, and tourism related to same-sex weddings, according to a May report by four New York state senators.Morgan Stanley Chairman John Mack, Goldman Sachs Chief Executive Officer Lloyd Blankfein, and other Wall Street executives argue that legalization was necessary for the state to remain an economic leader. As other places “extend marriage rights regardless of sexual orientation, it will become increasingly difficult to recruit the best talent if New York cannot offer the same benefits and protections,” the business leaders wrote in an open letter in April urging legalization of same-sex unions.
The Bloomberg article tells the stories of several business owners who have seen an increase in business since gay marriage became legal in New York in late June. You can find the article here.
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