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Promote equality, promote the economy

It’s a simple enough formula.

RedEquality

When the courts finally declare Texas’ ban on same-sex marriage illegal, which most people think they will, it could mean a boost for the wedding and hospitality industry as 23,200 couples tie the knot, according to a new interactive by the Williams Insititute at UCLA and Credit Suisse.

Whether or not you agree with same-sex marriage, there is money to be made from weddings.

Gay and lesbian Texans are expected to spend $181.6 million on weddings and receptions within three years of same-sex marriage becoming legal, adding $14.8 million in tax revenue and creating 523 jobs, according to an extrapolation of the experience in states where same-sex marriage is already allowed.

My colleague Lauren McGaughy wrote this in October and how 18,700 children in Texas are being raised by same-sex couples.

California saw 51,319 couples marry in the first three years after the ban there was lifted, and they spent $392.3 million dollars. More than 24,000 couples married in New York since it became legal there in 2013, spending $228.6 million and generating $19.4 million in tax revenue for the state.

The study is here if you want a closer look. This subject has come up before, and New York’s relatively early entry in marriage equality business was definitely good for them. Florida is estimated to have about the same economic benefit in store as Texas, so now that same sex marriage is legal there we should look to them for a good approximation of what we’re missing out on. The longer we take to get around to this, the more likely we’ll see a significant portion of this boon going to other states as Texas’ same-sex couple opt for destination wedding rather than wait it out. But hey, if Greg Abbott and the rest of the Texas GOP are happy to send that business off to California or wherever else, I guess that’s just the way it is. Wonkblog has more.

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